Stock on June 30 through technical prisms

4 min read
Securities company Positive Neutral Negative

Keep going down

(Bao Viet Securities Company – BVSC)

VN-Index formed a Marubozu candle pattern after today’s trading session. This signals the possibility that the market will continue going down in the near future. Notably, the index broke the support area of 830-840 points, which is a negative signal and it is likely that the trend of the VN-Index will turn to reduce short-term points and towards the deeper support zone at 790-800 points. .

Regarding the technical indicators, the MACD continues to go down and is likely to cross the zero line in the next few sessions, the Know Sure Thing and Stochastic Oscillator are pointing down and below the signal line, indicating a downtrend in the short term of the market.

The market is forecasted to continue under pressure to decline in the next few sessions to the deeper support zone at 790-800 points.

Keep going down

(Saigon-Hanoi Securities Company – SHS)

VN-Index dropped strongly in the first session of the week and the index currently closed below 830 points. The short-term technical signal is negative with resistance at 865 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 June 30, 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 strongly at the beginning of the week and the index currently closed below 111 points (MA50). 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 June 30, HNX-Index may continue falling with the nearest psychological support level of 100 points.

Still in a weakening beat

(Rong Viet Securities Company – VDSC)

The VN-Index continued to decline after failing to recover in the previous session but is temporarily being supported at MA (100), equivalent to 826 points. Technical indicators MACD backed to the 0 level, RSI fell below the bottom near 43. This shows that the trend of the VN-Index is still in a weakening span. However, the MA (100) is still a significant support area for the index in the short term so it is likely that the VN-Index will continue to be supported at the 826 points and recovering short-term with the resistance zone of 855 point.

HNX-Index dropped after many failed support sessions at EMA (26). The MACD is getting close to the 0 level, the RSI is falling after the indecision situation at the 50 zone. This shows that the correction of the HNX-Index is expanding and may gradually drop to the support area of 106 points.

Recommendation: The market accelerated the decline today. The overall trend of the market is still weak, but the VN-Index has retreated to the MA (100) area (equivalent to 826 points), this area has many meanings to support the market in a short time. It is likely that the market will recover in the near future to check the current weakening trend. Therefore, investors still need to be cautious and continue to consider keeping the stock portfolio at a safe level.

Re-test the resistance at 838 points

(Viet Capital Securities Company – VCSC)

VNSmallcap is the only index that keeps the medium-term technical signal at a positive level when the MA200 support at 744 points has not been broken. On HNX-Index, VNMidcap has changed the medium-term signal to neutral, similar to VN-Index and VN30 signals.

It is forecasted that tomorrow, the MA50-day support level of VN-Index, VN30 at 827 points and 768 points or MA200 day support of VNSmalcap may boost demand, helping the market have a recovery session. In this scenario, VN-Index can retest the MA100 support, which has just lost at 838 points. However, if the demand is not strong, reflected in the decline in trading volume on HoSE, this index may drop again at the end of the day or in the next session. Notably, this drop will have the probability of breaking the MA50 support at 827 points higher, bringing the VN-Index to the lower support around 800 points. In a more positive scenario if VN-Index surpasses the 838 point level with a strong trading volume, the index will retest the short-term resistance at 850 points.

Can test the 832 points area in the short term

(Mirae Asset Vietnam Securities Company – MASVN)

VN-Index’s strong drop exceeded the support of 832 which was the previous bottom. MASVN stated that in the short term, VN-Index may have a recovery to test this bottom. The important support level of the mid-term trend is 800-808 points.

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