Vietstock Weekly May 30-June 3, 2022: Towards the goal of 1,300 points

Vietstock Weekly May 30-June 3, 2022: Towards the goal of 1,300 points

 

In the weekly time frame (May 23-27, 2022), VN-Index continued to gain after testing the 38.2% Fibonacci Retracement level and the old peak of April 2018. 


At the same time, the index also surpassed the 100-week SMA, so the medium-term outlook is quite positive.



STOCK MARKET COMMENTARY WEEK 23-27/05/2022

In the weekly time frame (May 23-27, 2022), VN-Index continued to gain after testing the 38.2% Fibonacci Retracement level and the old peak of April 2018. At the same time, the index also surpassed the 100-week SMA, so the medium-term outlook is quite positive.


However, trading volume remains low. In order for the recovery to be really solid, the cash flow needs to improve and stay above the 20-week average.


TECHNICAL ANALYSIS

Trend Analysis and Price Oscillator

VN-Index - Crossing the middle line of Bollinger Bands



In the trading session on May 27, 2022, VN-Index continued to recover and cut above the middle line of Bollinger Bands with improved trading volume, showing that the short-term outlook is quite positive.



The MACD has given a buy signal and the Stochastic Oscillator has completed a bullish divergence, so the upside potential is improving.

HNX-Index - Volume is decreasing steadily



HNX-Index struggled with candles with small bodies and steadily decreasing volume. This shows investors' caution in the short term.


According to the signal of the Fibonacci Time Zones, the time to create the bottom of HNX-Index falls in May 2022, so the risk is not too great.


Cash Flow Analysis

Fluctuations of smart money: The Negative Volume Index of VN-Index crossed above the 20-day EMA. If this situation continues in the coming sessions, the risk of a sudden sharp drop (thrust down) will be limited.


Movement of cash flow from foreign investors: Foreign investors were net buyers in the session on May 27, 2022. If foreign investors maintain this action in the coming sessions, the situation will be more optimistic.




Technical Analysis Department, Vietstock Consulting Department

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