Vnindex 1st day recovery effort ssi cts agr pc1 cng vc2 tar psh
TODAY’S PRICE ACTION
🟩FIRST DAY OF RECOVERY EFFORT
🟩At the end of the trading session, the VN-Index closed at 1,153.85 points (up 1.4%) with low volume.
This is the first recovery effort after strong selling pressure in the morning as the index approached the 30-week MA🔮 or 150-day MA🔮.
The first day of price recovery after consecutive declines brought hope to many traders holding stocks.
A day of price recovery, many stocks in the securities group closed in purple 🔮such as SSI, CTS, AGR, …
or a few stocks that attracted a lot of attention recently such as PC1, CNG also closed in purple🔮.
Just one day of price increase, many traders forgot the previous floor declines and that is the reason why the first recovery efforts after a strong decline from the peak are often weak and imply that the downward trend will continue.
The market bounced back after falling through the long-term trendline connecting the major lows of the VN-Index on the weekly chart.
The first day of price increase always brings excitement when many traders have successfully caught the bottom and have a certain profit.
However, remember that the market has just risen from a mud puddle and it certainly will not be able to rise far if there are no leading stocks to appear and pull the market out of this mud.
As analyzed above, after the general market peaks and has the first strong decline, there will usually be a weak first recovery and quickly fail afterwards.
🟩Here are 3 signs to help you identify whether the first recovery effort is weak or not:
🔮(1) The market index increases for three, four or five days but with decreasing trading volume, the next day is lower than the previous day.
🔮(2) The main index (VN-Index) has a lower price increase than the previous day
🔮(3) The main index only recovers less than 50% of the first strong decline.
If you see signs of a weak recovery rally, my advice for you is to quickly sell your stocks and wait for another higher quality recovery to appear.
The area of 1,200 points may be the destination for this market’s recovery effort - equivalent to the rally back to near a MA50🪻 day resistance zone.
Because today is a day when the market has a high closing price and temporarily stops the decline, according to CANSLIM method we count this as day 1 of the recovery effort.🥰
Not every recovery effort is successful and that is why you should not be too excited at this point.
The recent pullbacks in leading stocks to important support zones are accompanied by large volume, today many stocks bounced back with low volume is a warning sign that traders need to be careful.
1️⃣PSH stock is forming the second bottom of the Double Bottom (W) pattern, pivot point of the pattern is 13.9.
Follow the early buy strategy Shakeout +3 (SO+3) when PSH stock rises again in the next sessions.
The entry point according to SO+3 strategy is 11.88, currently PSH is at base number 1 after falling through the previous Tight Flag pattern.
2️⃣TAR stock similarly is also forming a Double Bottom (W) pattern with pivot point of 13.9.
Follow the early buy strategy Shakeout +3 (SO+3) when TAR stock rises again in the next sessions.
The entry point according to SO+3 strategy is 18.37 - currently TAR stock is at base number 2
3️⃣VC2 stock similarly is also forming a Double Bottom (W) pattern with pivot point of 15.3.
Follow the early buy strategy Shakeout +3 (SO+3) when VC2 stock rises again in the next sessions.
The entry point according to SO+3 strategy is 13.31 - currently VC2 stock is at base number 1 after falling through...
🟩FIRST DAY OF RECOVERY EFFORT
🟩At the end of the trading session, the VN-Index closed at 1,153.85 points (up 1.4%) with low volume.
This is the first recovery effort after strong selling pressure in the morning as the index approached the 30-week MA🔮 or 150-day MA🔮.
The first day of price recovery after consecutive declines brought hope to many traders holding stocks.
A day of price recovery, many stocks in the securities group closed in purple 🔮such as SSI, CTS, AGR, …
or a few stocks that attracted a lot of attention recently such as PC1, CNG also closed in purple🔮.
Just one day of price increase, many traders forgot the previous floor declines and that is the reason why the first recovery efforts after a strong decline from the peak are often weak and imply that the downward trend will continue.
The market bounced back after falling through the long-term trendline connecting the major lows of the VN-Index on the weekly chart.
The first day of price increase always brings excitement when many traders have successfully caught the bottom and have a certain profit.
However, remember that the market has just risen from a mud puddle and it certainly will not be able to rise far if there are no leading stocks to appear and pull the market out of this mud.
As analyzed above, after the general market peaks and has the first strong decline, there will usually be a weak first recovery and quickly fail afterwards.
🟩Here are 3 signs to help you identify whether the first recovery effort is weak or not:
🔮(1) The market index increases for three, four or five days but with decreasing trading volume, the next day is lower than the previous day.
🔮(2) The main index (VN-Index) has a lower price increase than the previous day
🔮(3) The main index only recovers less than 50% of the first strong decline.
If you see signs of a weak recovery rally, my advice for you is to quickly sell your stocks and wait for another higher quality recovery to appear.
The area of 1,200 points may be the destination for this market’s recovery effort - equivalent to the rally back to near a MA50🪻 day resistance zone.
Because today is a day when the market has a high closing price and temporarily stops the decline, according to CANSLIM method we count this as day 1 of the recovery effort.🥰
Not every recovery effort is successful and that is why you should not be too excited at this point.
The recent pullbacks in leading stocks to important support zones are accompanied by large volume, today many stocks bounced back with low volume is a warning sign that traders need to be careful.
1️⃣PSH stock is forming the second bottom of the Double Bottom (W) pattern, pivot point of the pattern is 13.9.
Follow the early buy strategy Shakeout +3 (SO+3) when PSH stock rises again in the next sessions.
The entry point according to SO+3 strategy is 11.88, currently PSH is at base number 1 after falling through the previous Tight Flag pattern.
2️⃣TAR stock similarly is also forming a Double Bottom (W) pattern with pivot point of 13.9.
Follow the early buy strategy Shakeout +3 (SO+3) when TAR stock rises again in the next sessions.
The entry point according to SO+3 strategy is 18.37 - currently TAR stock is at base number 2
3️⃣VC2 stock similarly is also forming a Double Bottom (W) pattern with pivot point of 15.3.
Follow the early buy strategy Shakeout +3 (SO+3) when VC2 stock rises again in the next sessions.
The entry point according to SO+3 strategy is 13.31 - currently VC2 stock is at base number 1 after falling through...
