Technical view of the securities trading session on July 1: The short-term downtrend is ongoing
(ĐTCK) The short-term downtrend of the index is still ongoing, as the index has broken MA100 and MA5,10,20 in negative negative divergence, along with ADX trend indicator above 23 and –DI is widening the gap to above + DI, showing that the recovery motivation is weak.
The Securities Investment Review summarizes technical analysis reports of several securities companies for the trading session on July 1.
Phu Hung Securities – PHS
VN-Index dropped for the sixth day in a row. The volume was below 10 and 20 session average, meaning that the investors’ psychology is quite cautious.
Not just that, the short-term dropping trend is still there, when the index saw MA100 and MA5,10,20 sessions in negative negative divergence, along with ADX trend indicator above 23 and –DI is widening the gap up to + DI, showing a weak recovery incentive.
In addition, the MACD and RSI are negative, showing that the decreasing pressure is increasing. The index is under dropping pressure to the psychological support level of 800 points.
HNX-Index saw the third drop in a row and remained below MA20, showing that the short-term dropping pressure is getting stronger, the index might soon be under pressure on challenging support level around 108.1 points (MA100). .
VN-Index technical chart. Source: VCBS.
Bao Viet Securities – BVSC
At the end of the session, the index has cut below the SMA50 and hit the lower line of the Bollinger line, so the market’s recovering reaction may still appear tomorrow.
The Stochastics Oscillator indicator has also gone deep into the oversold area, so it is likely that the market will witness a recovery in the next few sessions.
However, the MACD has dropped to below zero after today’s session, while the MACD-Histogram continued to fall below zero. Art.
In addition, the Chaikin Money Flow indicator also maintained a drop below zero, indicating that the market continued not to receive positive support from cash flow.
HNX-Index technical chart. Source: VCBS.
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