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ANALYSIS & RESEARCH

Home PageThe analysisWeekly Wrap — Breaking through technical resistance on the upside

Weekly Wrap — Breaking through technical resistance on the upside

31/08/2020 - 08:34

Weekly — August 31

 

The VNI closed up 2.8% WoW, surpassing its 200-day moving average for the first time since January. This was driven by a 39% WoW increase in trading turnover and occurred despite stepped-up foreign net selling of US$119m. Both daily turnover (US$398m) and foreign net selling (US$53.5m) peaked on Friday, which was also the strongest close of the week. Both markets outperformed the broader region, and breadth on the VNI was again positive with 239 gainers vs 113 losers.
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