The period 2023 to Q1/2024 is the recovery period of the market, the price returns to find ATH according to Dow theory, and wave B has formed.
In the next stage, it is likely that the market will start to run wave C and will end the cycle, after which the market will likely begin to enter the strongest rising wave.
VNINDEX has surpassed its previous short-term peak with moderate volume.
The current hammer candlestick has small volume, the uptrend is no longer strong, few people are buying, the increase is in doubt.
VNINDEX has increased in a very long wave before, it is easy to have a correction wave, you need to be cautious when buying stocks in the short term.
1180 buy on breakout
Stoploss below 1150
Fundamental support
-Cheap valuation below 5Y fwd PE at -1SD
-High next 12M EPS growth over MSCI EM
Risk factor
-2Q24 corporate debt roll over period will deteriorate retail investor sentiment
The market is still in the correction phase. The time for correction is still quite long and we have two buying points. One is to buy around the 873 mark if there are good signals, two is to wait in the 500 area to be able to buy long term
The vnindex index has increased in the entire 5-wave cycle from 2001 to 2021, and is now entering the down cycle of wave 1. According to my prediction, this down cycle will be completed by 2031 and then the price will return to about 300-400
After the recovery, VNIndex continued its main downtrend. In the immediate future, we will see it re-approach the previous bottom at 900. Breaking this mark, it will approach the lower mark at 750
This is my idea about VNINDEX long term plan.
Time range: 2024-Q4 to 2025-Q2.
- Expected to continue its upward trend in Q4 2024, reaching a new record high of 2,000 points by the end of the year, driven by strong earnings growth, low interest rates, and positive market sentiment.
- In Q1 2025, the VN-Index may face some correction and consolidation, as...
Today was a very strong down session for VNINDEX, losing 46.21 points (~ 4.19%), falling to 1055.45 and unable to hold support at 1084.52, the next support level is around 1029.19.
According to Elliott waves, VNI is on its way to find the bottom of wave C in the next few sessions (possibly in November).
Furthermore, an inverse Head and Shoulders pattern is also...
