The buyers’ risk appetite has significantly increased, immediately altering the way orders are placed and the selected price range. Today’s market still witnessed many swinging movements, but they remained in the green zone and became more enthusiastic towards the end.
After a session of touching the bottom with a “pullback candle” and a session of tug-of-war balance, the market started to accelerate upwards. The most obvious change was from passively waiting for prices to actively blocking around reference prices, and today is about pushing prices up. This nature is a change in the assessment of risks: when afraid of further price drops, either not buying or waiting for very low prices and not matching is fine. When less afraid, buy on dips during the session. When the fear of missing out kicks in, buy by straight matching, and finally, when worried about others grabbing the opportunity, switch to competitive pricing.
Today’s liquidity was quite good, with a total matched order volume of about 16.9k billion VND on the two exchanges, showing an upward trend. The new information is that the Vietnamese market has not been considered for a change in ranking, which is theoretically not positive, but the way the market responded shows that the information itself is not inherently good or bad. When the psychology is enthusiastic, supply and demand become the deciding factors.
The VN30 blue-chip group today led the strong rise at the end, and the representative index of this basket also performed the best. In recent sessions, capital has been focusing clearly on this group, with a high weight of over 50% on the HSX floor. In fact, if we look at the index, the VNI failed to break the 1300 peak at the end of September and early October, but the VN30 has already broken through, and the recent retreat was just a retest of the old resistance zone. The wave on VN30 is much clearer, both in momentum and liquidity.
Today’s market also widely disseminated forecasts of Q3/2024 business results. In fact, this information is old news, but the interesting thing is that when the psychology needs to find a foothold, whether the information is old or new is not an issue, but whether it can meet the needs or not. Everyone starts talking about how this stock will increase profits well, and that stock will surge, which was of no interest yesterday or earlier this week. Such psychological developments always repeat themselves and remain effective.
There is now a growing acceptance of chasing higher prices, so the opportunity to buy at lower prices is diminishing. This is not necessarily a disadvantage because the purchases made during the dips already have a low cost base. There will always be intraday fluctuations even when the market is enthusiastic. Consensus has not yet been fully achieved.
Today, the futures market continued to maintain a wide basis difference. In the last 2.5 sessions, this signal has indicated that expectations are in line with the underlying market. Although a wide positive basis is a disadvantage for Long, when the market has strengthened, there is no other way, and Short is even riskier. In fact, even during intraday dips, F1 adjusted very little.
The threshold of 1341.xx of VN30 provided strong support for the index, serving as a good entry point for Long positions with a stop loss when VN30 falls below this level. VN30 broke through 1348.xx but failed to reach 1356.xx, however, the basis widened even further, which is advantageous.
Today’s strong rise is a signal of greater consensus from the sell-off signals and the change in the buyers’ will to place orders. The market has established a short-term bottom for this correction phase, and this is just a normal adjustment. The strategy remains to look for buying opportunities, Long/Short flexibility with derivatives, and a preference for Long.
VN30 closed today at 1351.97. Tomorrow’s nearest resistance levels are 1357; 1367; 1376; 1380; 1388; 1397. Supports are at 1348; 1341; 1333; 1325.
“Blog chứng khoán” is a personal blog and does not represent the views of VnEconomy. The opinions and assessments expressed are those of the individual investor, and VnEconomy respects the author’s point of view and writing style. VnEconomy and the author are not responsible for any issues arising from the investment opinions and perspectives published.
The Stock Market Buzz: Excitement Reaches New Heights
Risk appetite from the buyers has been increasing significantly, immediately shifting the way orders are placed and the selected price zones. Today’s market still witnessed volatile swings, but they were all in the green zone and became more exuberant towards the end.
The Savvy Investor’s Take: A Smart Sell-Off or a Missed Opportunity?
Individual investors sold a net amount of 71.3 billion VND, including 148.1 billion VND in matched orders. The top stocks sold were HPG, TCB, DBC, VHM, HAH, FPT, FRT, MWG, and EIB.
The Ever-Rising Bridge of Prices: Green Electric Board
Despite a modest gain of 3.24 points (+0.25%) in the VN-Index this morning, the index traded above the reference level for most of the session, with a clear breadth of advancing stocks. This is a testament to the inflow of funds as investors are willing to buy at higher price levels. Blue-chip stocks are leading the charge in terms of both index points and liquidity, accounting for over half of the market.
The Bottom Fishing Trap: Unveiling the Secrets of Stock Market Profits
Patience among sidelined funds snapped any recovery rhythm today. Only when prices plunged did larger order volumes emerge. Liquidity remains extremely low after last weekend’s session, which could be deemed a positive sign as those most eager to cut losses have already exited.
Stock Market Insights: Short-Term Sentiment Returns, Mid and Small-Cap Stocks Underperform
The enthusiastic upward momentum in the morning session triggered short-term profit-taking trades in the afternoon, creating noticeable pressure. The VNI once again climbed towards the 1300 mark, and a defensive stance emerged.
