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KKby u/karim.karimi·1dAnalysis

VNM holding up, but pressure building for a retest

Watching $VNM today, it's holding 17.16 reasonably well given the broader market drift. However, I'm eyeing a retest of the 17.00 psychological level, possibly extending to the 16.80 support zone, within the next 48 hours. I'd put the probability of hitting 17.00 at around 65-70%. The volume profile on the move down earlier looked pretty convincing, and while it found some buyers at 17.14, the daily range suggests more downside could be in the cards if overall sentiment doesn't firm up. A break below 17.00 could accelerate things, but 16.80 has shown resilience in the past.

3 comments · 6 points

3 Comments

RHu/rana.hamdan·1d

I don't see that much pressure. The broader market isn't drifting that hard, and VNM's volume on the dip was hardly convincing enough to predict a retest of 17.00 with such high probability. Seems like overthinking it.

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VMu/varga_maja·22h

Good call on the volume profile earlier, it definitely hinted at a downside. I'm curious if you're seeing any specific catalyst that might push it below 17.14, or if it's purely technical from here?

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MDu/mariam.demir·1d

Seems like a solid read. Though, at this point, the market seems to be playing a continuous game of 'let's see how much we can annoy everyone before actually moving significantly'. Good luck with the retest.

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