Technical analysis on 11/01/2022: Stop right at the important support level

From the peak of 1,536.45 points, the number of markets has continuously plummeted and lost nearly 33 points, finally ending at 1,503.71 points. The appearance of the Black Closing Marubozu candlestick pattern proves that investor sentiment is very pessimistic.

STOCK MARKET ANALYSIS BASIS DATE 10/01/2022. Market indexes traded positively in the session on January 10, 2022. Specifically, the VN-Index decreased by 1.62% to 1,503.71 points; HNX-Index dropped 2.22%, down to 482.89 points.

Matching volume on HOSE reached more than 1.2 billion units, up 27.22% compared to the previous session. The matched volume on the HNX increased by 28.97%, reaching nearly 186 million units.

Foreign investors were net sellers on HOSE with a value of over 465 billion dong, net buyers on HNX with nearly 28 billion dong.

VN-Index entered the first session of the week on January 10, 2021 with a slight green color, but divergence appeared in many industry groups on the trading floor. Although the market index struggled at times, most of the time in the morning session traded above the reference point. Before entering the lunch break, VN-Index gained 5.64 points, reaching 1,534.12 points. 

However, the movement on the stock exchange in the afternoon was not as smooth as many investors expected. VN-Index turned to decrease continuously from the highest increase of the day (nearly 8 points increased). Not stopping there, at around 2pm, the electronic boards of many securities companies had the phenomenon of "hanging" and this accelerated the decline of the VN-Index in the rest of the trading session. On the market, many stocks suddenly changed from a dramatic increase to the ceiling price to a floor decrease. At the end of the session, VN-Index dropped deeply by 24.77 points, stopping right above 1,500 points.

Earlier, at the gong beating ceremony for the first trading session of 2022, Minister of Finance Ho Duc Phuc informed that HOSE's trading system is currently loaded with 2.5 million orders while the new limit that FPT ( HM:FPT) opened was 3 million orders (previously 1.9 million orders).

 HOSE has the potential to block orders in the near future even though the system capacity has been greatly improved. Therefore, the Minister requested the Vietnam Stock Exchange (VNX), HOSE to coordinate with FPT to quickly expand the system, always taking the lead so that there is no longer congestion to ensure the most favorable conditions for the stock market. stock. Repeating system crashes in many securities companies will increase the aversion to unexpected risks as well as reduce confidence in the market, especially new investors. This is really not good for the development of the market in the long term.