Technical Signals for the VN-Index
During the trading session on the morning of November 22, 2024, the VN-Index witnessed a rise in points, forming a Doji candlestick pattern. This was accompanied by a slight increase in trading volume, indicating the investors’ dilemma.
Additionally, the VN-Index is retesting the Fibonacci Projection 23.6% threshold (equivalent to the 1,225-1,235 point region) as the Stochastic Oscillator continues its upward trajectory after previously triggering a buy signal. In a positive scenario, if the index successfully surpasses this resistance zone, the recovery prospect may extend into the upcoming sessions.
However, the ADX indicator is currently traversing within the grey zone (20 < adx < 25), warranting caution.
Technical Signals for the HNX-Index
On November 22, 2024, the HNX-Index displayed a positive performance, forming a Doji candlestick pattern, accompanied by a substantial surge in trading volume during the morning session, reflecting investors’ uncertainty.
Moreover, the HNX-Index is retesting its April 2024 lows (approximately 220-225 points) as the MACD indicator narrows the gap with the signal line following a prior sell signal. Should a buy signal resurface, the short-term outlook is poised for enhancement in the forthcoming sessions.
DPM – PetroVietnam Fertilizer and Chemical Corporation
On the morning of November 22, 2024, DPM witnessed a price increase, accompanied by a trading volume that surpassed the 20-session average, indicating investors’ optimism.
Presently, the stock price continues its ascent after breaching the middle curve of the Bollinger Bands, as the Stochastic Oscillator triggers a buy signal, suggesting the potential for a sustained short-term uptrend.
Furthermore, the stock price is retesting the Fibonacci Projection 61.8% threshold (approximately 34,300-35,000). In an optimistic scenario, if the stock price successfully surpasses this resistance zone, the short-term bullish momentum will be reinforced.
HDB – HDBank
During the morning session of November 22, 2024, HDB maintained its price level, while the trading volume witnessed a significant decline, reflecting investors’ prudence.
Additionally, the stock price is retesting the SMA 200-day threshold as the MACD indicator gradually narrows the gap with the signal line following a prior sell signal. Should a buy signal reappear, and this support level remains intact, the long-term optimistic outlook will be preserved.
Technical Analysis Team, Vietstock Consulting
The Market Beat: Foreigners End Selling Streak
The market closed with slight losses, as the VN-Index dipped by 0.23 points (-0.02%) to finish at 1,228.10, while the HNX-Index shed 0.47 points (-0.21%), closing at 221.29. The market breadth tilted towards decliners, with 371 tickers in the red versus 341 in the green. Meanwhile, the large-cap VN30 index displayed a more balanced performance, with 11 tickers losing ground against 13 advancing stocks and 6 remaining unchanged.
The Optimistic Outlook: Can We Expect a Positive Shift?
The VN-Index surged amidst a recent spate of losses, indicating a strong rebound. Accompanying this rise was a surge in trading volume, surpassing the 20-day average, signifying a return of liquidity to the market. The Stochastic Oscillator, a key technical indicator, has now entered oversold territory and is signaling a buy. Should this indicator continue to climb, we can expect a further positive shift in market sentiment.
The Stock Market Week of November 18-22, 2024: Anticipating a Return of Capital Flows
The VN-Index ended the week on a slightly negative note, but this did not dampen the positive recovery seen over the past week. Looking ahead, an increase in trading volume above the 20-day average, coupled with a return to net foreign buying, would boost expectations for the VN-Index’s growth.
Technical Analysis for the Afternoon Session on November 21st: Market Sentiment Clouded by Indecision
The VN-Index and HNX-Index both climbed, forming a Doji candlestick pattern, indicating investor indecision. This pattern suggests a potential shift in market sentiment, as investors appear uncertain about the future direction of the market. With the indices hovering at these levels, it’s a pivotal moment for Vietnam’s stock market, leaving investors wondering if this is a mere pause or a sign of things to come.
The Ultimate Guide to Profiting from the Stock Market: Catching Bottom Fishers and Riding the Wave of Real Estate Stocks
The morning’s tug-of-war continued into the afternoon session, with the market cautiously awaiting the reaction of bottom-fishing funds. The T+ day witnessed a market decline, breaching the 1200-point level. In a surprising turn of events, foreign investors turned net buyers in the latter part of the day, reversing the net trading position from the entire session.
