MARKET COMMENTARY WEEK 22-26/01/2024
During the week (22-26/01/2024), VN-Index declined and consolidated its upward momentum compared to the previous trading week.
Trading volume fluctuated abnormally and the index is currently testing the long-term resistance trendline, indicating potential volatility in the upcoming sessions.
TECHNICAL ANALYSIS
Trends and Price Oscillation Analysis
VN-Index – MACD and Stochastic Oscillator signal sell
In the trading session on 26/01/2024, VN-Index slightly increased while forming a small-bodied candle pattern with continued volume below the 20-session average, indicating cautious investor trading.
In addition, the MACD and Stochastic Oscillator indicators have given sell signals, suggesting a less optimistic outlook for the upcoming sessions.
Currently, the index has surpassed the previous September-October 2023 peak (equivalent to the 1,150-1,165 point range) and this will serve as good support for VN-Index in the near future.
HNX-Index – MACD has crossed below the 0 threshold
In the trading session on 26/01/2024, HNX-Index gained points and continues to stay below the 200-day SMA in the context of ADX continuing to move below the 20 level, indicating a high possibility of continued volatility.
Trading volume remains below the 20-session average, reflecting the cautious sentiment of investors.
In addition, the MACD indicator maintains a bearish state and has crossed below the 0 threshold, increasing the risk of a correction.
Money Flow Analysis
Smart money movement: The Negative Volume Index of VN-Index has crossed below and is below the 20-day EMA line. Therefore, the risk of sudden decline (thrust down) will increase.
Technical Analysis Department, Vietstock Advisory Room
