{"id":29754,"date":"2023-12-07T08:38:52","date_gmt":"2023-12-07T08:38:52","guid":{"rendered":"https:\/\/masterskills.org\/blog\/phan-tich-tu-tren-xuong-top-down-analysis-la-gi-cac-yeu-to-cua-phan-tich-co-phieu-tu-tren-xuong.html"},"modified":"2023-12-23T06:10:24","modified_gmt":"2023-12-22T23:10:24","slug":"phan-tich-tu-tren-xuong-top-down-analysis-la-gi-cac-yeu-to-cua-phan-tich-co-phieu-tu-tren-xuong","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/phan-tich-tu-tren-xuong-top-down-analysis-la-gi-cac-yeu-to-cua-phan-tich-co-phieu-tu-tren-xuong.html","title":{"rendered":"Ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng (Top-Down Analysis) l\u00e0 g\u00ec? C\u00e1c y\u1ebfu t\u1ed1 c\u1ee7a ph\u00e2n t\u00edch c\u1ed5 phi\u1ebfu t\u1eeb tr\u00ean xu\u1ed1ng"},"content":{"rendered":"
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\u1ea2nh minh h\u1ecdc: Vectorstock<\/p>\n<\/figcaption><\/figure>\n

Ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng<\/font><\/b><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng <\/b>trong ti\u1ebfng Anh l\u00e0 Top-Down Analysis.<\/b><\/p>\n

Ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng<\/b> l\u00e0 vi\u1ec7c\u00a0nh\u00ecn v\u00e0o “b\u1ee9c tranh to\u00e0n c\u1ea3nh” tr\u01b0\u1edbc m\u1ed9t \u00fd t\u01b0\u1edfng \u0111\u1ea7u t\u01b0 ho\u1eb7c l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu. Sau khi c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh l\u00e0 h\u01b0\u1edfng l\u1ee3i t\u1eeb xu h\u01b0\u1edbng to\u00e0n c\u1ea7u, nh\u00e0 ph\u00e2n t\u00edch s\u1ebd nghi\u00ean c\u1ee9u c\u00e1c chi ti\u1ebft th\u1ef1c t\u1ebf hay b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n c\u1ee7a c\u00f4ng ty n\u00e0y \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 cu\u1ed1i c\u00f9ng.<\/p>\n

M\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1eed d\u1ee5ng ph\u01b0\u01a1ng ph\u00e1p ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng th\u01b0\u1eddng b\u1eaft \u0111\u1ea7u b\u1eb1ng c\u00e1ch ph\u00e2n t\u00edch n\u1ec1n kinh t\u1ebf to\u00e0n c\u1ea7u. Sau \u0111\u00f3, h\u1ecd \u0111\u00e1nh gi\u00e1 c\u00e1c xu h\u01b0\u1edbng v\u0129 m\u00f4 trong c\u00e1c n\u1ec1n kinh t\u1ebf m\u00e0 h\u1ecd tin r\u1eb1ng c\u00f3 c\u01a1 h\u1ed9i t\u1ed1t nh\u1ea5t. Ti\u1ebfp theo, c\u00e1c nh\u00f3m ng\u00e0nh h\u01b0\u1edfng l\u1ee3i nh\u1eefng xu h\u01b0\u1edbng v\u0129 m\u00f4 \u0111\u00f3 s\u1ebd \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1. Cu\u1ed1i c\u00f9ng, l\u1ef1a ch\u1ecdn nh\u1eefng c\u1ed5 phi\u1ebfu ri\u00eang l\u1ebb trong ng\u00e0nh ti\u1ec1m n\u0103ng \u0111\u00f3.<\/p>\n

C\u00e1c y\u1ebfu t\u1ed1 c\u1ee7a ph\u00e2n t\u00edch c\u1ed5 phi\u1ebfu t\u1eeb tr\u00ean xu\u1ed1ng: Ph\u00e2n t\u00edch to\u00e0n c\u1ea7u<\/font><\/b><\/h3>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 \u0111\u00e1nh gi\u00e1 s\u1ee9c kh\u1ecfe c\u1ee7a n\u1ec1n kinh t\u1ebf to\u00e0n c\u1ea7u b\u1eb1ng c\u00e1ch ph\u00e2n t\u00edch t\u1ed5ng s\u1ea3n ph\u1ea9m qu\u1ed1c n\u1ed9i (GDP) c\u1ee7a c\u1ea3 th\u1ecb tr\u01b0\u1eddng ph\u00e1t tri\u1ec3n v\u00e0 m\u1edbi n\u1ed5i. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng n\u00ean xem x\u00e9t c\u00e1c r\u1ee7i ro\u00a0\u0111\u1ecba ch\u00ednh tr\u1ecb\u00a0c\u1ee7a m\u1ed9t qu\u1ed1c gia \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o an to\u00e0n khi \u0111\u1ea7u t\u01b0. T\u0103ng tr\u01b0\u1edfng GDP m\u1ea1nh m\u1ebd trong v\u00e0i n\u0103m th\u01b0\u1eddng l\u00e0 d\u1ea5u hi\u1ec7u cho th\u1ea5y m\u1ed9t n\u1ec1n kinh t\u1ebf \u0111ang ho\u1ea1t \u0111\u1ed9ng t\u1ed1t. N\u1ebfu m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 x\u00e1c \u0111\u1ecbnh tr\u01b0\u1edbc m\u1ed9t khu v\u1ef1c c\u1ee5 th\u1ec3 trong \u0111\u1ea7u th\u00ec vi\u1ec7c ph\u00e2n t\u00edch to\u00e0n c\u1ea7u c\u00f3 th\u1ec3 ch\u1ec9 \u0111\u01a1n gi\u1ea3n \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 thu h\u1eb9p gi\u1eefa c\u00e1c qu\u1ed1c gia trong khu v\u1ef1c \u0111\u00f3.\u00a0<\/p>\n

V\u00ed d\u1ee5, m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u00ecn v\u00e0o ch\u00e2u \u00c1 c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng GDP v\u00e0 b\u1ed9 l\u1ecdc t\u0103ng tr\u01b0\u1edfng GDP \u0111\u1ec3 t\u00ecm c\u00e1c qu\u1ed1c gia \u1edf ch\u00e2u \u00c1 c\u00f3 hai n\u0103m t\u0103ng tr\u01b0\u1edfng GDP, nh\u01b0ng t\u1ed5ng GDP c\u1ee7a khu v\u1ef1c d\u01b0\u1edbi 20 \u0111\u1ec3 t\u00ecm th\u1ecb tr\u01b0\u1eddng c\u1ed5 phi\u1ebfu m\u1edbi n\u1ed5i. Ho\u1eb7c m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 ch\u1ec9 \u0111\u01a1n gi\u1ea3n l\u00e0 t\u00ecm ki\u1ebfm n\u1ec1n kinh t\u1ebf l\u1edbn nh\u1ea5t ch\u00e2u \u00c1 v\u1edbi m\u1ee9c t\u0103ng tr\u01b0\u1edfng GDP m\u1ea1nh nh\u1ea5t.<\/p>\n

C\u00e1c y\u1ebfu t\u1ed1 c\u1ee7a ph\u00e2n t\u00edch c\u1ed5 phi\u1ebfu t\u1eeb tr\u00ean xu\u1ed1ng: Ph\u00e2n t\u00edch xu h\u01b0\u1edbng v\u0129 m\u00f4 v\u00e0 ph\u00e2n t\u00edch ng\u00e0nh<\/font><\/b><\/h3>\n

C\u00e1c b\u01b0\u1edbc ph\u1ed5 bi\u1ebfn ti\u1ebfp theo l\u00e0 xu h\u01b0\u1edbng v\u0129 m\u00f4 v\u00e0 ph\u00e2n t\u00edch ng\u00e0nh. Xu h\u01b0\u1edbng v\u0129 m\u00f4 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh b\u1eb1ng c\u00e1ch xem x\u00e9t c\u00e1c l\u0129nh v\u1ef1c c\u1ee5 th\u1ec3 c\u1ee7a n\u1ec1n kinh t\u1ebf c\u1ee7a m\u1ed9t qu\u1ed1c gia \u0111ang c\u00f3 d\u1ea5u hi\u1ec7u t\u0103ng tr\u01b0\u1edfng m\u1ea1nh m\u1ebd.\u00a0<\/p>\n

L\u1ea5y v\u00ed d\u1ee5 v\u1ec1 Trung Qu\u1ed1c, t\u1ea7ng l\u1edbp trung l\u01b0u \u0111ang l\u00ean \u1edf Trung Qu\u1ed1c \u0111\u00e3 khi\u1ebfn n\u01b0\u1edbc n\u00e0y tr\u1edf th\u00e0nh m\u1ed9t trong nh\u1eefng nh\u00e0 nh\u1eadp kh\u1ea9u th\u1ef1c ph\u1ea9m l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi. \u0110\u1ec3 ph\u00e2n t\u00edch xu h\u01b0\u1edbng v\u0129 m\u00f4 r\u00f5 n\u1eefa, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 xem x\u00e9t c\u00e1c lo\u1ea1i th\u1ef1c ph\u1ea9m c\u1ee5 th\u1ec3 \u0111ang \u0111\u01b0\u1ee3c nh\u1eadp kh\u1ea9u, so s\u00e1nh c\u00e1c m\u1eb7t h\u00e0ng ch\u1ee7 l\u1ef1c nh\u01b0 th\u1ecbt b\u00f2, th\u1ecbt l\u1ee3n, s\u1eefa, ng\u0169 c\u1ed1c v\u00e0 c\u00e1c s\u1ea3n ph\u1ea9m h\u1ea1t gi\u1ed1ng d\u1ea7u.<\/p>\n

Khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 x\u00e1c \u0111\u1ecbnh xu h\u01b0\u1edbng v\u0129 m\u00f4 \u0111\u1ea7y h\u1ee9a h\u1eb9n, h\u1ecd c\u00f3 th\u1ec3 ph\u00e2n t\u00edch c\u00e1c l\u0129nh v\u1ef1c \u0111\u01b0\u1ee3c \u0111\u1ecbnh v\u1ecb t\u1ed1t \u0111\u1ec3 t\u1eadn d\u1ee5ng l\u1ee3i th\u1ebf.\u00a0<\/p>\n

V\u00ed d\u1ee5, sau khi x\u00e1c \u0111\u1ecbnh nhu c\u1ea7u ng\u00e0y c\u00e0ng t\u0103ng \u0111\u1ed1i v\u1edbi th\u1ecbt b\u00f2 v\u00e0 c\u00e1c s\u1ea3n ph\u1ea9m t\u1eeb s\u1eefa \u1edf Trung Qu\u1ed1c, nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd ph\u00e2n t\u00edch ng\u00e0nh h\u00e0ng ti\u00eau d\u00f9ng, c\u1ee5 th\u1ec3 l\u00e0 th\u1ef1c ph\u1ea9m ch\u1ebf bi\u1ebfn v\u00e0 \u0111\u00f3ng g\u00f3i, c\u00e1c s\u1ea3n ph\u1ea9m th\u1ecbt v\u00e0 n\u00f4ng s\u1ea3n. M\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 ch\u1ecdn di chuy\u1ec3n s\u1edbm trong chu\u1ed7i gi\u00e1 tr\u1ecb, t\u1eadp trung v\u00e0o c\u00e1c nh\u00e0 nh\u1eadp kh\u1ea9u h\u00e0ng h\u00f3a v\u00e0 th\u1eadm ch\u00ed c\u00e1c c\u00f4ng ty n\u01b0\u1edbc ngo\u00e0i cung c\u1ea5p cho h\u1ecd. Ngo\u00e0i ra, m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 ch\u1ecdn ti\u1ebfn l\u00ean chu\u1ed7i gi\u00e1 tr\u1ecb v\u00e0 t\u1eadp trung v\u00e0o c\u00e1c nh\u00e0 ch\u1ebf bi\u1ebfn th\u1ef1c ph\u1ea9m trong n\u01b0\u1edbc, nh\u1eefng ng\u01b0\u1eddi nh\u00ecn th\u1ea5y l\u1ee3i nhu\u1eadn trong vi\u1ec7c bi\u1ebfn h\u00e0ng h\u00f3a th\u00e0nh s\u1ea3n ph\u1ea9m cho th\u1ecb tr\u01b0\u1eddng Trung Qu\u1ed1c. L\u1ee3i nhu\u1eadn v\u00e0 c\u00e1c ch\u1ec9 s\u1ed1 hi\u1ec7u su\u1ea5t c\u1ea5p ng\u00e0nh c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00f9ng \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 c\u00e1c l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0.<\/p>\n

Ph\u00e2n t\u00edch c\u1ea5p \u0111\u1ed9 c\u1ed5 phi\u1ebfu trong ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng<\/font><\/b><\/h3>\n

Sau khi thu h\u1eb9p t\u00ecm ki\u1ebfm xu\u1ed1ng m\u1ed9t l\u0129nh v\u1ef1c c\u1ee5 th\u1ec3 trong m\u1ed9t khu v\u1ef1c nh\u1ea5t \u0111\u1ecbnh, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1eed d\u1ee5ng ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng cu\u1ed1i c\u00f9ng s\u1ebd xem x\u00e9t c\u00e1c c\u1ed5 phi\u1ebfu c\u1ee5 th\u1ec3 trong c\u00e1c ph\u00e2n ng\u00e0nh c\u00f3 ti\u1ec1m n\u0103ng nh\u1ea5t.\u00a0<\/p>\n

Trong v\u00ed d\u1ee5 n\u00e0y, nh\u00e0 \u0111\u1ea7u t\u01b0 mu\u1ed1n t\u00ecm c\u00e1c c\u00f4ng ty c\u00f3 kh\u1ea3 n\u0103ng sinh l\u1eddi cao v\u00e0 \u0111\u00e1p \u1ee9ng nhu c\u1ea7u ng\u00e0y c\u00e0ng t\u0103ng \u0111\u1ed1i v\u1edbi c\u00e1c s\u1ea3n ph\u1ea9m th\u1ef1c ph\u1ea9m t\u1ea1i Trung Qu\u1ed1c. S\u1ef1 k\u1ebft h\u1ee3p ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u00e0 k\u0129 thu\u1eadt c\u00f3 th\u1ec3 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 quy\u1ebft \u0111\u1ecbnh mua c\u1ed5 phi\u1ebfu n\u00e0o. Ch\u1eb3ng h\u1ea1n, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 t\u00ecm ki\u1ebfm c\u00e1c c\u1ed5 phi\u1ebfu trong ph\u00e2n ng\u00e0nh h\u00e0ng th\u1ecbt c\u00f3 v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng tr\u00ean 1 t\u1ec9 USD v\u00e0 g\u1ea7n \u0111\u00e2y \u0111\u00e3 v\u01b0\u1ee3t qua \u0111\u01b0\u1eddng trung b\u00ecnh tr\u01b0\u1ee3t 200 ng\u00e0y. N\u1ebfu c\u00f3 nhi\u1ec1u c\u00f4ng ty \u0111\u00e1p \u1ee9ng ti\u00eau ch\u00ed n\u00e0y, vi\u1ec7c ph\u00e2n t\u00edch c\u01a1 b\u1ea3n b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n c\u1ee7a c\u00e1c c\u00f4ng ty \u0111\u00f3 c\u00f3 th\u1ec3 gi\u00fap l\u1ecdc ra nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 ti\u1ec1m n\u0103ng nh\u1ea5t.<\/p>\n

Ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng trong ph\u00e2n t\u00edch k\u0129 thu\u1eadt<\/font><\/b><\/h3>\n

Ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng c\u00f3 m\u1ed9t c\u00e1ch ti\u1ebfp c\u1eadn h\u01a1i kh\u00e1c nhau trong ph\u00e2n t\u00edch k\u0129 thu\u1eadt. N\u00f3 \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c c\u00e1i nh\u00ecn to\u00e0n di\u1ec7n h\u01a1n v\u1ec1 gi\u00e1 ch\u1ee9ng kho\u00e1n b\u1eb1ng c\u00e1ch chuy\u1ec3n t\u1eeb c\u00e1c khung th\u1eddi gian r\u1ed9ng h\u01a1n sang c\u00e1c khung h\u1eb9p h\u01a1n. Tr\u01b0\u1edbc ti\u00ean, nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 ph\u00e2n t\u00edch bi\u1ec3u \u0111\u1ed3 h\u00e0ng ng\u00e0y ho\u1eb7c h\u00e0ng tu\u1ea7n \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh xu h\u01b0\u1edbng d\u00e0i h\u1ea1n c\u1ee7a ch\u1ee9ng kho\u00e1n c\u0169ng nh\u01b0 m\u1ee9c h\u1ed7 tr\u1ee3 v\u00e0 kh\u00e1ng c\u1ef1 c\u1ee7a n\u00f3. Sau \u0111\u00f3 chuy\u1ec3n sang khung th\u1eddi gian nh\u1ecf h\u01a1n \u0111\u1ec3 thi\u1ebft l\u1eadp \u0111i\u1ec3m v\u00e0o l\u1ec7nh t\u1ed1t.\u00a0<\/p>\n

V\u00ed d\u1ee5, n\u1ebfu ch\u1ee9ng kho\u00e1n c\u00f3 xu h\u01b0\u1edbng cao h\u01a1n tr\u00ean \u0111\u1ed3 th\u1ecb ng\u00e0y v\u00e0 c\u00f3 \u0111\u00e0 t\u0103ng tr\u00ean \u0111\u1ed3 th\u1ecb gi\u1edd, m\u1ed9t nh\u00e0 giao d\u1ecbch \u0111ang s\u1eed d\u1ee5ng ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng c\u00f3 th\u1ec3 chuy\u1ec3n sang \u0111\u1ed3 th\u1ecb 15 ph\u00fat v\u00e0 t\u00ecm \u0111i\u1ec3m v\u00e0o l\u1ec7nh t\u1ed1t cho v\u1ecb tr\u00ed d\u00e0i h\u1ea1n.<\/p>\n

(Theo Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng (ti\u1ebfng Anh: Top-Down Analysis) l\u00e0 vi\u1ec7c nh\u00ecn v\u00e0o “b\u1ee9c tranh to\u00e0n c\u1ea3nh” tr\u01b0\u1edbc m\u1ed9t \u00fd t\u01b0\u1edfng \u0111\u1ea7u t\u01b0 ho\u1eb7c l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29754"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=29754"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29754\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=29754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=29754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=29754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}