Stocks on September 24 through technical ‘prisms’

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

There is still room to increase points

(Bao Viet Securities Company – BVSC)

VN-Index continued moving up to the upper BB. The fact that the Bollinger band tends to expand after a tightening period shows the possibility that the VN-Index has overcame a sideways fluctuation and may experience stronger fluctuations in the near future. Currently, the index still receives support from the “pivot low” point (corresponding to the support area around 902 points) that was previously formed. BVSC’s technical indicators continued to emit positive signals. The MACD and Stochastic Oscillator continue to move upwards and above the signal line. Meanwhile, the ADX line remained above 25 with + DI above -DI. These signals suggest that the market still has room to increase in short term. The index is expected to continue gaining in the next few sessions and aiming to challenge resistant level of 920-930 points.

Increasing with the next resistance around 925 points

(Saigon-Hanoi Securities Company – SHS)

VN-Index rebounded today and the index closed above 910 points (fibonacci extension 50%), matching volume decreased compared to the previous session but still higher than the 20-day average of 324 million. 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 865 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 24, VN-Index could continue to rise with the next resistance around 925 points (the trendline connects the peaks from April 2018 to now).

The HNX-Index gained for the fifth consecutive session and the index continued to close above the psychological level of 130 points, matched volume declined compared to the previous session and was lower than the 20-day average of 51 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 level at 120 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 on September 24, the HNX-Index could continue to rise with the next resistance around 133 points (fibonacci extension 100%).

Aim to target 920

(Rong Viet Securities Company – VDSC)

The VN-Index has not shown signs of stopping after surpassing 905.8. Although the RSI is entering the oversold zone, the ADX has not shown any signs of a short-term correction. Thus, this uptrend is still positive and targets to reach 920 level.

On the chart, the HNX-Index is accelerating strongly and has not shown exhaustion. The RSI entered the overbought zone, while the ADX was approaching 40, showing that the uptrend of this index will still continue and the approaching target is 135.

Recommendation: The general trend of the market is assessed positively through technical analysis. At the same time, this increase spread to stock groups. Thus, at this time, investors can maintain a high proportion of stocks in their accounts or continue to disburse in the market to seek profits for this rising wave.

Encountered many strong vibrations

(KB Securities Vietnam – KBSV)

After struggling, VN-Index opened gap and gained slightly today. With the early reaction with the resistance zone 920 – 925 while the momentum indicator RSI has entered overbought zone, KBVSC thinks that the index’s recovering trend will see many strong fluctuations in the next few sessions. Investors are recommended to take part of their position at high price range during the session.

There is a chance to overcome the resistance at 920 points

(Viet Capital Securities Company – VCSC)

Short-term technical signals remain positive at all indexes. However, getting closer to strong resistances can make the shaking and differentiation stronger.

It is expected that tomorrow, the market will continue to have efforts to increase and struggle with selling pressure boosted by the resistance, for VN-Index it is 920 +/- 5 points. VCSC has not seen any signs of a reliable reversal appearing in the VN-Index chart or resistance indicators, so theoretically, the VN-Index will also have a chance to overcome this resistance. However, investors also need to be cautious, reflected in the restriction on buying and chasing rising stocks at the moment. Instead, maintaining stocks in the portfolio, waiting for signals of the market at strong resistances to take appropriate actions should be preferred.

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

Source: ndh.vn – Translated by fintel.vn