Stock on February 23 through technical ‘prism’

5 min read
Securities company Positive Neutral Negative
AseanSC X
BVSC X
KBSV X
PHS X
SHS X
VDSC X

There is quite a negative signal

(Asean Securities Company – AseanSC)

On VN-Index daily chart, there is a small green candle of ‘Doji’ shape at the resistance zone from 1,180 to 1,190, which is a quite negative signal. This shows that the uptrend is temporarily slowing down. Therefore, AseanSC believes that, in a negative scenario, the VN-Index will test the support area near 1,120-1,170 points, the next support area is forecast at 1,140-1,150 points. In a positive scenario, the near resistance area of ​​the VN-Index is forecast at 1,180-1,190 points, and the next resistance zone is forecast at 1,200-1210 points.

Continue to have difficulty at the resistance zone near 1,175-1,185 points

(Bao Viet Securities Company – BVSC)

Investors’ cautiousness when the index approached the old peak of 1,185-1,200 points, causing the selling pressure to increase profit-taking. However, the cash flow into the market is still absorbing this profit-taking selling force quite well. BVSC believes that this movement will continue in the next few sessions.

The Doji candle that appeared today not only reflected the indecision and struggle of the index but also warned the possibility of market correction if the price line breaks the support zone of 1.157-1.169 points. However, the index is still supported by increasing short-term MA lines. In addition, the trend indicators have re-established bullish status, while the momentum indicators are still in a positive state. This shows that the index might still see struggling in a narrow range in the next few sessions. The index is expected to continue experiencing difficulties at resistant level near 1,175-1,185 points in the next few sessions. The market will likely form pulling movements with alternating increases and decreases below this resistance area to help create a cumulative price base for a few sessions before it is expected to continue to rise above the 1,200 point peak in the near future. .

Short-term adjustment risk somewhat increases

(KB Securities Vietnam Company – KBSV)

VN-Index struggled today and formed a small spinning candle pattern. Although the main gaining trend is being preserved, the index is still resistant to resistant level around 1,180 with the risk of short-term correction is somewhat increasing. Investors are recommended to maintain medium-term position and possibly combine partial trading, and at the same time continue to balance short-term position when the index approaches near resistance.

Need a few shaking sessions

(Phu Hung Securities Company – PHS)

VN-Index had a slight increase again. The trading volume surpassed the 10-day average, meaning that the cash flow continued entering the market. Not just that, the index still closed above MA5, together with MA5 created a positive divergence with MA20, showing that short-term recovering trend is ongoing, the index might move to challenge historic peak of 1,200 points. . However, when observing closely, MA20 is dropping negatively, showing that the correcting pressure has not been removed, so the index might need a few shaking sessions around current level before breaking out again. , with MA5 acting as major support.

HNX-Index had similar situation. The index gained for the fifth consecutive session and closed above MA20, along with MACD cut up Signal, and reinforced buying signals, showing that recovering trend is ongoing, the index might move up to challenge again. Old peaks around 245 points. In general, the market still kept recovering trend. Therefore, investors can consider taking advantage of shaking sessions to increase a small proportion of stocks with good fundamentals and attract strong cash flow.

The vibrations could continue to happen

(Saigon-Hanoi Securities Company – SHS)

Technical analysis viewpoint is the elliott wave scenario set up earlier with wave 3 ending when rising from 925 points to 1,200 points (fibonacci extension 161.8% wave 1) and correcting wave 4 also ends with target under the standard scenario which is around 1,040 points (fibonacci retracement 38.2% wave 3) and more negative scenario is around 990 points (fibonacci retracement 50% wave 3). In fact, the market fell slightly below the psychological support level of 1,000 points and then rebounded on January 29.

Because corrective wave 4 falls more strongly than the standard scenario, so wave 5 after that with the theoretical length of wave 1 ie about 250 points (from 650 points to 900 points), the market is still likely to surpassed the historic peak in 2021 with the target at around 1,250 points.

The mid-term trend is currently bullish wave 5, so the possibility of an increase in the next session is highly considered. And the trend of the current wave 5 is likely to last as long as the previous wave 1, which means about 2 months with a target around 1,250 points can be reached in early April 2021. However, in the short-term, vibrations can continue when the market is lying around the resistance level of 1,170 points (the peak of the previous technical recovery).

The nearest support level is around 1,120 points (MA20) and further around 1,110 points (MA50). The confluence of these two support levels will be a potential new buying point for short and medium term positions if the market corrects.

The adjustment rhythm has not yet been completed

(Rong Viet Securities Company – VDSC)

The VN-Index once increased strongly but fell back at the resistance level of 1180. The MACD showed a positive signal, but the ADX has not yet signaled in sync with the MACD. Thus, with a close below 1180 and ADX has not turned up, the VNindex is still moving in a small correction to 1150.

HNX-Index has surpassed the small resistance zone 232 and continued conquering the old peak area of ​​245.5. Indicators like ADX or MACD in consensus showed good signs, showing that the uptrend is still stable and the target of breaking the previous peak at 245.5.

Recommendation: The stock market is in a small correction and the differentiation is happening on a large scale. Correction phase has not been completed in the next session but after this correction, it will enter a more positive period. Therefore, investors can consider large-cap stocks or Midcap stocks with good signals to prepare to increase their proportion of the portfolio.

Investors should only consider comments of securities companies as sources of reference information. Securities companies all have recommendations to exempt the responsibility for the above comments.

Source: ndh.vn – Translated by fintel.vn