Securities on July 1 through technical prisms

4 min read
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A rebound reaction may still appear

(Bao Viet Securities Company – BVSC)

Ending the session today, the index has cut below the SMA50 line and hit the lower line of the Bollinger line, so the market’s recovering reaction may still appear tomorrow.

The Stochastics Oscillator indicator has also gone deep into the oversold area – so it is likely that the market will witness a recovery in the next few sessions. However, the MACD indicator fell below zero after today’s session while the MACD-Histogram continued to fall below zero after a few technical recovery sessions. In addition, the Chaikin Money Flow indicator also maintained a drop below zero, indicating that the market continued not to receive positive support from cash flow.

The zone of 860-870 will be the nearest resistance area for market efforts. On the other hand, in case the market continues to decline, the area of 800-810 will act as a support area to help the market recover.

Keep going down

(Saigon-Hanoi Securities Company – SHS)

VN-Index dropped in the sixth session in a row and the index continued to close below 830 points, the matched volume dropped slightly from the previous session and was still lower than the 20-day average with 308 million shares. The short-term technical signal is negative with resistance at 860 points (MA20). The mid-term technical signal is negative with resistance at 835 points (MA50). In the long term, VN-Index is moving in bear market with resistance at 900 points (MA200). It is forecasted that, in the next trading session on July 1, VN-Index may continue to decline with the next support level around 800 points (fibonacci retracement 38.2%) and the nearest resistance around 840 points ( fibonacci retracement 50%).

HNX-Index dropped for the third session in a row and the index currently closed below 110 points, the matched volume increased slightly compared to the previous session but was still lower than the 20-day average with 57 million shares. The short-term technical signal is negative with resistance at 115 points (MA20). The midterm technical signal is negative with the resistance at 111 points (MA50). Regarding the long-term trend, HNX-Index is currently moving in bull market with the support at 106 points (MA200). It is forecasted that, in the next trading session on July 1, HNX-Index may continue to decline with the nearest support level around 106 points (MA200).

Risks are still increasing

(Rong Viet Securities Company – VDS)

Currently, the VN-Index is touching the strong support zone 823-825 for the second time and still holding above this support area, showing that this is a quite positive support zone. The ADX indicator shows that the downtrend is weakening, while the MACD is still negative. Judging from the current situation, the VN-Index is struggling at the 825 area, if this zone is maintained, the increase of VN-Index will positively rise to EAM 200 at 880. In contrast, this index when losing important support, the drop is 750.

HNX-Index, after losing the support level 111-112, could not recover and is on a downward trend. At present, the blocking trend of 108 is taking effect, the ADX is still maintaining the sideway trend, the MACD is showing negative signs. Therefore, HNX-Index will continue maintaining sideways trend in the area of 108-112 in the near future.

In summary, at present, the main indicators have not shown a clearer trend and the risk is still increasing with the existing high selling pressure. VDSC recommends that investors be cautious or enter the market when there is a clearer trend.

Continue to expand the decline

(KB Vietnam Securities Company – KBSV)

The attempt to recover at the beginning of the session was unsuccessful, VN-Index continued the dropping trend with strong selling pressure at the end of the session. With the confirmation of the old bottom was broken today, the index is likely to continue extending its decline to the deeper support at 79x and 77x. Investors are recommended to continue waiting for a deep correction and reopen part of the short-term proportion in the mentioned support areas.

Appear pressure fell early

(Viet Capital Securities Company – VCSC)

The medium-term technical signal of VNSmallcap has changed from a positive level to a neutral level, equal to the medium-term signal of the remaining indices. Meanwhile, short-term technical signals of the market remained negative.

It is expected that tomorrow, technical signals will continue changing badly of the market, which may create pressure on the drop at the beginning of the day for the indices. In particular, VN-Index will test the mid-term support MA50 at 825 points again. If this support is broken, the medium-term signal of the VN-Index will turn Negative and the market is likely to return to the medium-term downtrend. In this scenario, the next short-term support level of the VN-Index will be a 795-800 points. On the contrary, if VN-Index can recover from the support at 825 points, this index might test the possibility of surpassing the MA100 resistance at 838 points again. Investors should maintain the observation position, temporarily restrict the opening of buying position at the moment.

Investors should only consider the statements of securities companies as a reference source. Securities companies all recommend disclaiming liability for these statements.


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