Market Recap - Reversal to increase
28/11/2023

Summary

▶ During Tuesday's trading session, the market suddenly turned up in the afternoon session after 2 p.m with high liquidity compared to yesterday.

▶ At the end, VN-Index increased 7.37 points, equivalent to 0.68%, reaching 1,095.43 points; HNX-Index increased 0.5 points (+0.22%), reaching 224.39 points. Market liquidity reached 14.06 trillion VND, equivalent to about 682 million shares traded. Foreign investors continued to net buy 47.5 billion VND, focusing mainly on DGC and VPB.

▶ Technical perspective: VNINDEX had a trading session no different from last Friday's session when it dropped sharply in the morning session and then formed a retreat candle in the afternoon session and both closed at 1095. It can be seen that the market is still moving sideways to build a foundation at area 1080 - current support area, corresponding to Fibo 0.5. The MACD, STOCH and RSI indicators all adjusted significantly, showing that the trend from sideways to downward in the coming sessions is high. The reference support levels are at 1080, and beyond is the old bottom at 1030. In addition, in a positive scenario, the market needs to completely surpass 1140 to confirm a new and more obvious uptrend.

Category
Daily
Author
Diem Ngo
Details

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