MARKET ANALYSIS FOR THE WEEK OF DECEMBER 8-12, 2025
During the week of December 8-12, 2025, the VN-Index experienced a sharp decline, marked by the emergence of a Big Black Candle pattern and a drop below the Middle line of the Bollinger Bands. Trading volumes remained consistently low, below the 20-week average, indicating persistent caution among investors.
With the MACD indicator widening its gap from the Signal line following a sell signal in late October 2025, market volatility is likely to persist in the near term.
TECHNICAL ANALYSIS
Trend and Price Oscillation Analysis
VN-Index – Black Marubozu Candle Formation
On December 12, 2025, the VN-Index continued its fourth consecutive session of steep declines, accompanied by a Black Marubozu candle pattern and increased trading volume above the 20-session average, reflecting heightened investor pessimism.
Currently, the index has fallen below the Middle line of the Bollinger Bands, while the MACD indicator has reissued a sell signal. This suggests a more bearish short-term outlook.
Additionally, the VN-Index is testing the 100-day SMA. If conditions do not improve and the short-term downtrend persists, the index is likely to retest the November 2025 lows (around 1,570-1,590 points).
HNX-Index – MACD Reissues Sell Signal
On December 12, 2025, the HNX-Index extended its losing streak to six consecutive sessions, with a long-bodied candle pattern and trading volume surpassing the 20-session average, underscoring persistent investor pessimism.
Furthermore, the index remains near the Lower Band of the Bollinger Bands and is retesting the March 2025 highs (around 243-250 points), which were previously breached.
Meanwhile, the Stochastic Oscillator continues to decline sharply, and the MACD indicator has reissued a sell signal, now below the zero line, amplifying short-term bearish sentiment.
Capital Flow Analysis
Smart Money Movement: The Negative Volume Index for the VN-Index remains below the 20-day EMA. If this condition persists in the next session, the risk of a sudden downward thrust will increase.
Foreign Capital Flow: Foreign investors continued net selling on December 12, 2025. If this trend continues in upcoming sessions, market sentiment will likely become even more bearish.
Technical Analysis Department, Vietstock Advisory Division
– 16:58 December 14, 2025
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