Stock blog: Vibration doesn’t fall off, the side holds the neck firmly!

Today’s slight correction session has many positive features, notably low liquidity. With quite good short-term profits, the continuous ups and downs during the session did not push up liquidity, showing that investors are holding on to stocks instead of surfing.

Quick statistics with the VNAllshare basket on the HSX, nearly 63% of stocks in the basket have T+2 profits (can be closed this afternoon) of over 1%, about 30% have profits of over 3% (calculated based on closing price). If we take into account T+4 (bottom fishing on April 19), more than 41% have a profit of over 3%.

From the perspective of surfing T+, this is a very good profit level, so today’s drops can be considered a challenge for this group of speculators. During the whole market session, the market stuffed up and down 4-5 times, especially in the afternoon when there was a period of lifting and pressing the pillar quite strongly. In a context where the bottom is still unclear, the most liquid goods are profitable goods, and when liquidity is low, selling demand is not high. Today HSX and HNX only matched 13.2k billion.

Evaluating whether the market is strong or weak is often clearer in down sessions/downswings because at that time sentiment is easily fluctuating. When the market is rapidly increasing, of course everyone wants to hold on to their stocks to “earn more”, but when the market fluctuates and is not clear, the pressure to preserve profits easily promotes trading. From the perspective of a market that has temporarily had a reference bottom point and is unclear whether it has actually created a bottom or not, the decision to hold stock is a strong psychological signal.

In fact, today if there are downward pressures with larger amplitudes, it will be easier to observe supply and demand. The deepest decrease in VNI was only 5.4 points compared to the reference, which is a bit light if seen from yesterday’s increase of 28 points. If the adjustment amplitude is about 50%, equivalent to 14-15 points, it will create heavier psychological pressure. Of course, many stocks have had a much stronger correction than the index, but basically they all have demand supporting them and pushing prices up with low liquidity. That is also a signal that pressure from the selling side is not strong.

In general, after yesterday’s strong increase, corrections or corrections without large selling volume will strengthen the bottom signals. Buyers are still waiting for such price fluctuations to enter the market. This is still the stage of “testing” supply and demand to see which side’s psychology is stronger. Only when the party holding the money decides that it is difficult to buy at a lower price and decides to raise the price will liquidity be stronger.

Today’s derivatives market is difficult to trade on the Short side because the discount basis is too wide. VN30 only hovers around 1235.xx – 1229.xx. Long also has limited profits in this situation. Today’s developments are good for the base but little land for derivatives.

Currently, the psychology of the holding company is quite stable, with little wavering. In general, an uptrend depends heavily on the level of liquidity and the size of the amount of stock ready to be released. The underlying market has likely created a short-term bottom and entered a recovery period. The strategy is to watch Long.

VN30 closed today at 1233.72. The nearest threshold tomorrow is 1236; 1246; 1258; 1262; Support 1229; 1222; 1215; 1206; 1198.

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