Vnindex 🤩 🟩🆙️ ma50 rsi50

🟩Ignoring POWELL's
COMMENTS, THE STOCK
MARKET RECOVERED
STRONGLY AT THE WEEK🟩

🟩POSTED ON AUGUST 28, 2023

🟩Although Powell assessed current inflation as "too high" and "willing to raise rates further if necessary", the stock market assessed his speech as not too hawkish.

Specifically, Powell acknowledged that inflation is on positive note and therefore the market seems to believe there is only one more rate hike before a pause.

The world and Vietnam stock markets therefore continued their recovery efforts.
Lower liquidity is pointing to risks for
this rally.

🟩STOCK MARKET MOVEMENT
TODAY🟩

🟩CME FedWatch data shows that the
probability of a +0.25% rate hike in November has increased significantly, although it remains unchanged at the September meeting.

🟩The dollar (USD Index) fell slightly after Powell's comments and the US, Asian and European stock markets gained again.

🟩The fact that VFS stock gained +312% in the past week also created supportive information.

VIC's stock gained +1.89% although it still showed signs of narrowing its
gain at the end of the session, but it was also one of the main contributors to the index's strong gain in the first session of the week.

🟩VNM shares suddenly surged +4%, HPG +3.47% were the two stocks that contributed the most to the +1.55% gain of the VN-Index

🟩This was the day when large-cap stocks performed better, with the VN30 gaining +1.63%, outperforming the +0.82% gain of the HNX-Index.

🟩The uptrend took place on a large scale with the number of stocks increasing 4.6 times the number of stocks falling on HOSE.

However, this is not the day when the bulls really control the game
The risk is liquidity on Monday, lower than on Friday last week.

In a true uptrend market, a market boom is often accompanied by higher volume.

We don't see this here, showing
market reticence.

🟩The risk is liquidity on Monday, lower than on Friday last week. In a true uptrend market, a market boom is often accompanied by higher volume.

We don't see this here, showing
market reticence

🟩In the weekend's Youtube news, 🤩Elibook Trader assessed that the market was having a recovery wave that lasted through September
2nd.

That is happening.

🟩In a day of strong market price increase, it is not surprising that many groups of industries increased sharply such as retail and real
estate.

In which, FRT +4.9%, VRE +3.7%..or
DXG +5.2%.

🟩Positive sessions are also when speculative stocks perform well.

BCG shares purple when the market spreads rumors of deals related to
EIB, helping this stock benefit.

Previously, BCG denied that the police came to work at the
King Crown Infinity project.

🟩While the stock market performed well and ignored Powell's comments, the foreign exchange and bond markets are showing concern.

The USD/VND exchange rate
continued to increase strongly.

The free exchange rate increased by 46 dong to 24,060 dong.

Vietnam's 10-year government bond
yield rose 46 points to 2.7%.

🟩Thus, government bond yields have surpassed the 50-day MA and may open an uptrend in the near future.

Bond yields and rising exchange rates will hurt the stock market in
the long run.

These are important macro variables to watch for now.

🟩This week, the market will be watching US PCE data released on Thursday (US time), as well as Non Farm Payroll jobs data on Friday
(US time).

Vietnam stock market only trades
until Thursday, before the holiday 2.9.

🟩Stock price action remains an important indicator of what a trader should do.

PVS stock only increased slightly +0.9% and was still resisted by the 50-day MA.

Although, Singapore Prime Minister Lee Hsien Loong is visiting Vietnam, opening up opportunities for cooperation in energy fields such as wind power, oil and gas, which will help PVS benefit.

Traders should still wait for PVS to rebuild a buy point.

🟩Underperforming BREAKOUT
POINT IS A SIGN OF THE
MARKET NEED A REST🟩

🟩A strong rally did not change the market outlook, after being hurt by the sell-off on August 18, 2023.

The VN-Index is facing resistance at the 21-day EMA and lower liquidity in the recovery sessions, indicating
risk.

🟩The performance of the leaders and the quality of the base are still worrisome.

A series of underperforming breakouts is a sign of market weakness.

At the beginning of August, in addition to the Vin family, the
banking group was the industry leading the wave.

However, this industry group is showing a broken base.

🟩For example, like VPB +0.5% and OCB +1.09% today and still struggling to regain the 50-day MA.

The reference CTG stock also failed to regain the 21-day EMA and broke the Chiec Coc pattern in early August.

Similarly, BID only increased slightly +0.55% and also failed to regain the 50-day MA.
..To be continued

🟩HOW DO TRADERS ACT? -
HIGHLIGHTS VTP VHC🟩

--To be continued