Market Report Week 46 - The recovery process is proving to be difficult


Key Highlights:

The US Consumer Price Index (CPI) rose 3.2% year-over-year in October. This is a slowdown from September's 3.7% and below economists' expectations. Core CPI, which excludes food and energy prices, rose 4% from the previous month. This is also below expectations and the lowest level in two years, but still above the Federal Reserve's target of 2%.

Technical view: VNINDEX closed at 1,101.19 points (-0.49 points, -0.04%) on the weekly chart with slightly increased liquidity. Thus, after recovering from the 1,020-point bottom from early November 2023 to the present, the market currently has the biggest decline of over 24 points on Friday. VNINDEX continues to show that the upward process is facing difficulties when selling pressure is quite strong at the 50-day and 200-day moving averages. With the base scenario, we expect the market will need to accumulate in the 1,080-1,100 range for some time to lower the height of the 50-day moving average and gain momentum to break out of this resistance zone.

Investment Ideas: Overall, there are still short-term trading opportunities, but the win rate will be low when the market still cannot completely break through the 50-day and 200-day moving averages. The current reference support and resistance levels are 1,080 - 1,120.

  • Movement of cash flows and capital flows
  • Top stocks worth noting
  • Macro data
Hoang Nam

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