STOCK MARKET REVIEW FOR THE WEEK OF 08/26/2024 – 08/30/2024
During the week of 08/26/2024 – 08/30/2024, the VN-Index paused its upward trend and continuously fluctuated around the old peak of June and July 2024 (equivalent to the 1,280-1,300-point range).
Meanwhile, trading volume remained below the 20-week average. This indicates that investors are cautious, so the index is likely to continue fluctuating in the coming sessions.
TECHNICAL ANALYSIS
Price Trend and Oscillation Analysis
VN-Index – ADX Indicator in the Gray Area
In the trading session on 08/30/2024, the VN-Index slightly increased and stayed above the Middle line of the Bollinger Bands, while the trading volume decreased and was below the 20-session average, indicating investors’ cautious sentiment.
In addition, the VN-Index is advancing to retest the old peak of July 2024 (equivalent to the 1,275-1,300-point zone) while the ADX indicator is moving in the gray area (20<>
HNX-Index – High Wave Candle Pattern
In the trading session on 08/30/2024, the HNX-Index decreased and formed a High Wave Candle pattern while testing the SMA 50-day and SMA 100-day lines. The trading volume continued to be below the 20-session average, indicating a state of fluctuation.
Currently, the MACD indicator is gradually narrowing the gap with the Signal line. Therefore, the outlook will be less optimistic if the indicator gives a buy signal again in the future.
Money Flow Analysis
Smart Money Flow Variation: The Negative Volume Index indicator of the VN-Index cut above the EMA 20-day line. If this status continues in the next session, the risk of an unexpected drop (thrust down) will decrease.
Technical Analysis Department, Vietstock Consulting
The New Wave of Stock Market Investors: Vietnamese Expats
VTV.vn – There is a significant number of Vietnamese individuals residing, studying, and working abroad who are actively investing in the Vietnamese stock market.
The Stock Market Outlook Post-Holiday Season
“Caution prevailed ahead of the 2/9 holiday, resulting in a stagnant final trading week of August for the stock market. As the new month commenced post-holiday, expectations of a market upswing surfaced, buoyed by a plethora of supportive macro factors on both domestic and international fronts.”
“Breathable Exchange Rates: Stock Markets Overcoming the Fear”
The US dollar weakened significantly in August, falling below the 25,000 VND mark at one point. Forecasts for the exchange rate trend from now until the end of the year look positive. As a result, the stock market has shaken off its fears of exchange rate volatility, and expectations are high for it to surpass the previous peak of 1,300 points soon after the 2nd of September holiday.
The Stock Market Ends the Week on a Down Note Despite Four Straight Sessions of Gains
Week 26 – 30/08: The VN-Index dipped 2 points to close the week at 1,283.4, despite four consecutive days of gains during the week.
