Stocks on 23/9 through technical ‘prism’

4 min read
Securities company Positive Neutral Negative
BVSC X
SHS X
VDSC X
KBSV X
VCSC X

Increase point

(Bao Viet Securities Company – BVSC)

A “Doji” candle formed in today’s trading session showed a struggle between the buyers and the sellers. VN-Index had a session to retest the gap formed earlier. The fact that the index did not completely break this bullish gap and closed in the middle of the front candlestick showed the formation of a “pivot low” around 902 points, which became the support area for the index during the sessions.

Regarding the technical indicator system, MACD, Momentum, and Stochastic Oscillator are emitting positive signals while remaining positive and above the signal line. Meanwhile, ADX was above 25 with + DI was above -DI. These signals are showing that the index still has room to increase in short term.

The index is expected to increase in the next few sessions and is aiming to challenge resistant level of 920-930 points in short term.

Increase again

(Saigon-Hanoi Securities Company – SHS)

The VN-Index fell slightly today but the index still ended above 900 points (MA200 weeks), matched volume increased slightly compared to the previous session and was higher than the 20-day average of 368 million shares. The index’s short-term technical signal is positive with the support level at 895 points (MA20). The medium-term technical signal of the index is positive with the support level at 860 points (MA50). Regarding the long-term trend, VN-Index moves in the bull market with the support level at 865 points (MA200). It is forecasted that in the next session on September 23, VN-Index might rebound with the nearest resistance around 910 points (fibonacci extension 50%).

The HNX-Index rallied for the fourth consecutive session and the index ended above the psychological level of 130 points, matched volume decreased slightly compared to the previous session but still higher than the 20-day average of 66 million shares. The index’s short-term technical signals are positive with the support level at 127 points (MA20). The index’s medium-term technical signal is positive with the support at 119.5 points (MA50). Regarding the long-term trend, the HNX-Index is currently moving in the bull market with the support at 110 points (MA200). It is predicted that in the next session 23/9, HNX-Index may continue to rise with the next resistance around 133 points (fibonacci extension 100%).

The recovery has not shown signs of ending

(Rong Viet Securities Company – VDSC)

VN-Index was indecisive at 906 points after slightly surpassing this area in the previous session. Technical indicators MACD continued to have slight recovery, RSI is cautious before 70. This shows that VN-Index is still in a short-term recovery with slow movement. The slight correcting move today has not shown a big negative impact, and the technical signals are still quite stable, so the recovery span of the index hasn’t ended yet but next movement will still be cautious.

HNX-Index continued to increase. Technical indicators MACD continued to recover after surpassing its signal line, RSI continued to set new highs. This shows that the HNX-Index is still in a rising process. The technical indicators increased rapidly together with the index, so HNX-Index might have entered the peak phase and need to wait for specific distribution signals.

Recommendation: VN-Index is still in a short-term recovery with slow movements. The slight correction today has not shown a large negative impact, so the recovery span of the market has not ended yet, but the next movement will still be cautious. Therefore, investors can still rely on the current recovery of the market but need to be cautious and observe trading dynamics.

Leaning is likely to extend the uptrend

(KB Securities Vietnam – KBSV)

VN-Index struggled and formed a spinning candle pattern today. With supportive reaction at the old peak, KBSV is inclined to extend the index’s uptrend with the expected target of 920 – 925, although strong shaking is likely to occur when the momentum indicator RSI are near the overbought zone. Investors are recommended to continue holding and may take partial profits in case the index moves to the expected target zone.

The tension could continue

(Viet Capital Securities Company – VCSC)

The short-term technical signals of the VN-Index maintained a positive level in all indices. However, the buying force in leading stocks is becoming stronger and more stable than the rest, especially in capitalization group.

It is predicted that in tomorrow’s session, push-pull movements might continue, at least in the morning session. The VN30 might have a downtrend to test the demand at low prices at the MA5 support at 845 points. If it protects this support successfully, the VN30 might recover at the end of the session or the next session to retest the strong resistance at 855 points. Overcoming this level, the VN30 may move up to the 865-870 zone, creating an effect for the VN-Index to move to a higher resistance around 920 points while the HNX-Index moves to the 2018 resistance zone at 135-138 points. On the contrary, if the VN30 closes below 845 points, a short-term reversal signal will form and weaker indicators like VNSmallcap will be sold out more aggressively.

Investors should only consider comments of securities companies as a source of reference information. Securities companies all recommend disclaimer for the above comments.

Source: ndh.vn – Translated by fintel.vn