Vietstock Weekly 06/06/2022: Trading volume needs to be improved

Vietstock Weekly 06/06/2022: Trading volume needs to be improved

 

In the weekly time frame (May 30-June 3, 2022), VN-Index formed a Spinning Top candlestick pattern, showing that investors are wondering at the 38.2% Fibonacci Retracement level (equivalent to 1,300 points).


STOCK MARKET COMMENTARY WEEK 30/05-June 3, 2022


In the weekly time frame (May 30-June 3, 2022), VN-Index formed a Spinning Top candlestick pattern, showing that investors are wondering at the 38.2% Fibonacci Retracement level (equivalent to 1,300 points).


Trading volume remains low. For the rally 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 - Continuing to struggle strongly

In the trading session on June 3, 2022, VN-Index continued to struggle strongly and was still above the middle line of Bollinger Bands.



However, the trading volume was low and below the 20-day average, showing that investors are cautious and limit their trading strongly in the short term.


The Stochastic Oscillator is at a fairly high level and could sell again next week.

HNX-Index - Volume is low

In the trading session on June 3, 2022, HNX-Index corrected with low volume, showing that the probability of returning to the old bottom in May 2022 is quite high.



The death cross status of the medium and long-term MA group is still maintained. These lines also continue to decline, so the downtrend is unlikely to be reversed.


Cash Flow Analysis

Fluctuations of smart money: The VN-Index's Negative Volume Index is 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 sellers in the trading session on June 3, 2022. If foreign investors maintain this action in the coming sessions, the situation will be more pessimistic.
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