Technical analysis of Vietnam stock market: week of January 2-5, 2024

technical perspective

Vietstock – Technical Analysis of Vietnam Stocks: Week of January 2-5, 2024

Investment strategies and in-depth technical analysis of the Vietnam stock market.

Analyze price trends and fluctuations

– Inverted Hammer Candlestick Pattern Appears

Trading session on December 29, 2023, vietnam index It rose slightly, an inverted hammer pattern appeared, and trading volume was lower than the 20-day moving average for 12 consecutive trading days, indicating that investor caution continues.

In addition, the index has not yet been able to surpass the old highs of November 2023 (equivalent to the 1,115-1,135 point area), while the ADX continues to be below the 20 level, indicating a very weak trend, so there is a high possibility of continued negative changes, the The vibration rhythm of the area.

In addition, the stochastic oscillator has entered the overbought zone, and if a sell signal appears, the risk of a pullback will increase.

HNX-Index – Retesting the upper edge of a triangle pattern

Trading session on December 29, 2023, HNX-index It rose slightly and continued to remain above the middle line of the Bollinger Bands, indicating that the positive outlook will continue.

Furthermore, the MACD and Stochastic oscillators have resumed buy signals and continue to point upwards, so the recovery is still set to continue.

Currently, the index is retesting the upper edge of the triangle pattern (equivalent to the 232-236 point area). If the index breaks above this upper edge, the next price target would be the 265-272 area.

cash flow analysis

Volatility of smart money flows: Negative Volume Index Indicator vietnam index dismembered and lying on the road EMA 20 sky. Therefore, the risk of a sudden decline (drop in thrust) will be limited.

Cash flow fluctuations from foreign investors: Foreign investors continued to be net buyers during the trading session on December 29, 2023. If foreign investors continue this action in the coming trading days, the situation will become more optimistic.

Vietstock Consulting Department Technical Analysis Department