{"id":328,"date":"2016-09-28T15:15:52","date_gmt":"2016-09-28T08:15:52","guid":{"rendered":"http:\/\/robostock.vn\/web\/?p=328"},"modified":"2016-09-28T15:15:52","modified_gmt":"2016-09-28T08:15:52","slug":"ly-thuyet-dow","status":"publish","type":"post","link":"https:\/\/robostock.vn\/web\/ly-thuyet-dow\/","title":{"rendered":"L\u00fd thuy\u1ebft Dow"},"content":{"rendered":"
L\u00fd thuy\u1ebft Dow l\u00e0 c\u01a1 s\u1edf \u0111\u1ea7u ti\u00ean cho m\u1ecdi nghi\u00ean c\u1ee9u k\u0129 thu\u1eadt tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. M\u1eb7c d\u00f9 n\u00f3 th\u01b0\u1eddng b\u1ecb coi l\u00e0 tr\u1ec5 so v\u1edbi th\u1ecb tr\u01b0\u1eddng v\u00e0 b\u1ecb nhi\u1ec1u ng\u01b0\u1eddi ch\u1ec9 tr\u00edch, nh\u01b0ng n\u00f3 v\u1eabn \u0111\u01b0\u1ee3c \u0111\u00f4ng \u0111\u1ea3o nh\u1eefng ng\u01b0\u1eddi c\u00f3 quan t\u00e2m \u0111\u1ebfn v\u00e0 t\u00f4n tr\u1ecdng. R\u1ea5t nhi\u1ec1u ng\u01b0\u1eddi…<\/div>\n

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L\u00fd thuy\u1ebft Dow l\u00e0 c\u01a1 s\u1edf \u0111\u1ea7u ti\u00ean cho m\u1ecdi nghi\u00ean c\u1ee9u k\u0129 thu\u1eadt tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. M\u1eb7c d\u00f9 n\u00f3 th\u01b0\u1eddng b\u1ecb coi l\u00e0 tr\u1ec5 so v\u1edbi th\u1ecb tr\u01b0\u1eddng v\u00e0 b\u1ecb nhi\u1ec1u ng\u01b0\u1eddi ch\u1ec9 tr\u00edch, nh\u01b0ng n\u00f3 v\u1eabn \u0111\u01b0\u1ee3c \u0111\u00f4ng \u0111\u1ea3o nh\u1eefng ng\u01b0\u1eddi c\u00f3 quan t\u00e2m \u0111\u1ebfn v\u00e0 t\u00f4n tr\u1ecdng. R\u1ea5t nhi\u1ec1u ng\u01b0\u1eddi, d\u00f9 \u00edt hay nhi\u1ec1u c\u00f3 s\u1eed d\u1ee5ng l\u00fd thuy\u1ebft n\u00e0y cho vi\u1ec7c \u0111\u1ec1 ra cho ri\u00eang m\u00ecnh m\u1ed9t quan \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 \u0111\u1ec1u kh\u00f4ng nh\u1eadn ra m\u1ed9t \u0111i\u1ec1u l\u00e0 b\u1ea3n ch\u1ea5t c\u1ee7a L\u00fd thuy\u1ebft Dow l\u00e0 ho\u00e0n to\u00e0n mang \u201ct\u00ednh k\u0129 thu\u1eadt\u201d.<\/p>\n

C\u01a1 s\u1edf \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u0169ng nh\u01b0 \u0111\u1ed1i t\u01b0\u1ee3ng nghi\u00ean c\u1ee9u c\u1ee7a l\u00fd thuy\u1ebft ch\u00ednh l\u00e0 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng c\u1ee7a b\u1ea3n th\u00e2n th\u1ecb tr\u01b0\u1eddng (th\u1ec3 hi\u1ec7n trong ch\u1ec9 s\u1ed1 trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng) v\u00e0 kh\u00f4ng h\u1ec1 d\u1ef1a tr\u00ean c\u00f9ng c\u01a1 s\u1edf c\u1ee7a Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n l\u00e0 c\u00e1c th\u1ed1ng k\u00ea h\u1ecdat \u0111\u1ed9ng kinh doanh c\u1ee7a doanh nghi\u1ec7p.<\/span> <\/p>\n

Trong nh\u1eefng ghi ch\u00e9p c\u1ee7a ng\u01b0\u1eddi \u0111\u1ea7u ti\u00ean \u0111\u1ec1 ra l\u00fd thuy\u1ebft n\u00e0y, \u00f4ng Charles.H.Dow, c\u00f3 r\u1ea5t nhi\u1ec1u \u0111i\u1ec1u ch\u1ee9ng t\u1ecf r\u1eb1ng t\u00e1c gi\u1ea3 kh\u00f4ng h\u1ec1 ngh\u0129 l\u00fd thuy\u1ebft c\u1ee7a m\u00ecnh s\u1ebd tr\u1edf th\u00e0nh m\u1ed9t c\u00f4ng c\u1ee5 d\u00f9ng cho d\u1ef1 b\u00e1o th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n hay th\u1eadm ch\u00ed n\u00f3 tr\u1edf th\u00e0nh m\u1ed9t h\u01b0\u1edbng d\u1eabn chung cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0. Nh\u1eefng ghi ch\u00e9p \u1ea5y ch\u1ec9 n\u00f3i l\u00ean r\u1eb1ng \u00f4ng mu\u1ed1n l\u00fd thuy\u1ebft c\u1ee7a m\u00ecnh th\u00e0nh m\u1ed9t th\u01b0\u1edbc \u0111o bi\u1ebfn \u0111\u1ed9ng chung c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Dow th\u00e0nh l\u1eadp \u201cD\u1ecbch v\u1ee5 th\u00f4ng tin t\u00e0i ch\u00ednh Dow Jones\u201d v\u00e0 \u0111\u01b0\u1ee3c m\u1ecdi ng\u01b0\u1eddi bi\u1ebft \u0111\u1ebfn v\u1edbi vi\u1ec7c t\u00ecm ra ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. Nh\u1eefng nguy\u00ean l\u00fd c\u0103n b\u1ea3n c\u1ee7a h\u1ecdc thuy\u1ebft (ng\u00e0y nay \u0111\u01b0\u1ee3c \u0111\u1eb7t theo t\u00ean \u00f4ng) \u0111\u00e3 \u0111\u01b0\u1ee3c \u00f4ng ph\u00e1c th\u1ea3o ra trong m\u1ed9t b\u00e0i nghi\u00ean c\u1ee9u m\u00e0 \u00f4ng vi\u1ebft cho \u201c Nh\u1eadt B\u00e1o Ph\u1ed1 Wall\u201d. Sau khi Dow ch\u1ebft, n\u0103m 1902, ng\u01b0\u1eddi k\u1ebf t\u1ee5c \u00f4ng l\u00e0m bi\u00ean t\u1eadp cho t\u1edd nh\u1eadt b\u00e1o, William.P.Hamilton, \u0111\u00e3 ti\u1ebfp t\u1ee5c vi\u1ec7c nghi\u00ean c\u1ee9u l\u00fd thuy\u1ebft n\u00e0y, sau 27 n\u0103m nghi\u1ebfn c\u1ee9u v\u00e0 vi\u1ebft c\u00e1c b\u00e0i b\u00e1o, \u00f4ng \u0111\u00e3 t\u1ed5 ch\u1ee9c v\u00e0 c\u1ea5u tr\u00fac l\u1ea1i th\u00e0nh L\u00fd thuy\u1ebft Dow nh\u01b0 ng\u00e0y nay.<\/span> <\/p>\n

Tr\u01b0\u1edbc h\u1ebft, h\u00e3y quan t\u00e2m \u0111\u1ebfn ch\u1ec9 s\u1ed1 trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Nh\u00ecn chung gi\u00e1, ch\u1ee9ng kho\u00e1n c\u1ee7a t\u1ea5t c\u1ea3 c\u00e1c c\u00f4ng ty \u0111\u1ec1u c\u00f9ng l\u00ean v\u00e0 xu\u1ed1ng, tuy nhi\u00ean m\u1ed9t s\u1ed1 c\u1ed5 phi\u1ebfu l\u1ea1i chuy\u1ec3n \u0111\u1ed9ng theo h\u01b0\u1edbng ng\u01b0\u1ee3c l\u1ea1i xu th\u1ebf chung c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu kh\u00e1c cho d\u00f9 l\u00e0 ch\u1ec9 trong v\u00e0i ng\u00e0y ho\u1eb7c v\u00e0i tu\u1ea7n. Th\u1ef1c t\u1ebf cho th\u1ea5y khi th\u1ecb tr\u01b0\u1eddng l\u00ean gi\u00e1 th\u00ec gi\u00e1 c\u1ee7a m\u1ed9t s\u1ed1 ch\u00fang kho\u00e1n t\u0103ng nhanh h\u01a1n nh\u1eefng ch\u1ee9ng kho\u00e1n kh\u00e1c, c\u00f2n khi th\u1ecb tr\u01b0\u1eddng xu\u1ed1ng gi\u00e1 th\u00ec m\u1ed9t s\u1ed1 ch\u1ee9ng kho\u00e1n gi\u1ea3m gi\u00e1 nhanh ch\u00f3ng trong khi c\u00f3 m\u1ed9t s\u1ed1 kh\u00e1c l\u1ea1i t\u0103ng l\u00ean, nh\u01b0ng th\u1ef1c t\u1ebf v\u1eabn ch\u1ee9ng minh r\u1eb1ng h\u1ea7u nh\u01b0 t\u1ea5t c\u1ea3 c\u00e1c ch\u1ee9ng kho\u00e1n \u0111\u1ec1u giao \u0111\u1ed9ng theo c\u00f9ng m\u1ed9t xu th\u1ebf chung.<\/span> <\/p>\n

C\u00f9ng v\u1edbi nh\u1eefng c\u1ed1 g\u1eafng nghi\u00ean c\u1ee9u c\u1ee7a m\u00ecnh, Charles Dow \u0111\u00e3 \u0111\u01b0a ra kh\u00e1i ni\u1ec7m v\u1ec1 \u201cch\u1ec9 s\u1ed1 gi\u00e1 b\u00ecnh qu\u00e2n\u201d nh\u1eb1m ph\u1ea3n \u00e1nh xu th\u1ebf chung c\u1ee7a m\u1ed9t s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u1ea1i di\u1ec7n cho th\u1ecb tr\u01b0\u1eddng. Hai lo\u1ea1i ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n Dow Jones \u0111\u01b0\u1ee3c h\u00ecnh th\u00e0nh v\u00e0o n\u0103m 1897 v\u00e0 v\u1eabn \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng cho \u0111\u1ebfn ng\u00e0y nay do Dow t\u00ecm ra v\u00e0 \u00e1p d\u1ee5ng trong c\u00e1c nghi\u00ean c\u1ee9u c\u1ee7a \u00f4ng v\u1ec1 xu th\u1ebf chung c\u1ee7a th\u1ecb tr\u01b0\u1eddng. M\u1ed9t trong hai lo\u1ea1i ch\u1ec9 s\u1ed1 \u1ea5y l\u00e0 ch\u1ec9 s\u1ed1 c\u1ee7a 20 c\u00f4ng ty xe l\u1eeda, lo\u1ea1i c\u00f2n l\u1ea1i g\u1ecdi l\u00e0 ch\u1ec9 s\u1ed1 c\u00f4ng nghi\u1ec7p thu\u1ed9c c\u00e1c ng\u00e0nh kh\u00e1c bao g\u1ed3m 12 c\u00f4ng ty m\u1ea1nh nh\u1ea5t v\u00e0o th\u1eddi k\u1ef3 \u0111\u00f3. Con s\u1ed1 n\u00e0y t\u0103ng l\u00ean 20 c\u00f4ng ty v\u00e0o n\u0103m 1916 v\u00e0 \u0111\u1ebfn 1928 l\u00e0 30 c\u00f4ng ty.<\/span> <\/p>\n

Ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n Dow<\/b><\/span> <\/p>\n

Thu\u1eadt ng\u1eef th\u1ecb tr\u01b0\u1eddng nh\u1eb1m ch\u1ec9 gi\u00e1 ch\u00fang kho\u00e1n n\u00f3i chung, giao \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng t\u1ea1o th\u00e0nh c\u00e1c xu th\u1ebf gi\u00e1, trong \u0111\u00f3, quan tr\u1ecdng nh\u1ea5t l\u00e0 c\u00e1c xu th\u1ebf c\u1ea5p 1 (xu th\u1ebf ch\u00ednh hay xu th\u1ebf c\u01a1 b\u1ea3n)…<\/span> <\/p>\n

1 – Ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n th\u1ecb tr\u01b0\u1eddng ph\u1ea3n \u00e1nh t\u1ea5t c\u1ea3 (tr\u1eeb h\u00e0nh \u0111\u1ed9ng c\u1ee7a Ch\u00faa)<\/b><\/span> <\/p>\n

B\u1edfi v\u00ec n\u00f3 ph\u1ea3n \u00e1nh nh\u1eefng ho\u1ea1t \u0111\u1ed9ng c\u00f3 li\u00ean k\u1ebft v\u1edbi nhau c\u1ee7a h\u00e0ng ngh\u00ecn nh\u00e0 \u0111\u1ea7u t\u01b0, g\u1ed3m c\u1ea3 nh\u1eefng ng\u01b0\u1eddi c\u00f3 kinh nghi\u1ec7m d\u1ef1 \u0111o\u00e1n th\u1ecb tr\u01b0\u1eddng gi\u1ecfi nh\u1ea5t, c\u00f3 nh\u1eefng th\u00f4ng tin t\u1ed1t nh\u1ea5t v\u1ec1 xu h\u01b0\u1edbng v\u00e0 c\u00e1c s\u1ef1 ki\u1ec7n, nh\u1eefng g\u00ec c\u00f3 th\u1ec3 nh\u1eadn th\u1ea5y tr\u01b0\u1edbc v\u00e0 t\u1ea5t c\u1ea3 nh\u1eefng g\u00ec c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn cung v\u00e0 c\u1ea7u c\u1ee7a c\u00e1c lo\u1ea1i ch\u1ee9ng kho\u00e1n.Th\u1eadm ch\u00ed c\u1ea3 nh\u1eefng thi\u00ean tai hay th\u1ea3m h\u1ecda kh\u00f4ng d\u1ef1 t\u00ednh \u0111\u01b0\u1ee3c th\u00ec ngay khi x\u1ea3y ra, ch\u00fang \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1ecb tr\u01b0\u1eddng ph\u1ea3n \u00e1nh ngay v\u00e0o gi\u00e1 c\u1ee7a c\u00e1c lo\u1ea1i ch\u1ee9ng kho\u00e1n.<\/span> <\/p>\n

2 – Ba xu th\u1ebf c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/b><\/span> <\/p>\n

Thu\u1eadt ng\u1eef th\u1ecb tr\u01b0\u1eddng nh\u1eb1m ch\u1ec9 gi\u00e1 ch\u00fang kho\u00e1n n\u00f3i chung, giao \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng t\u1ea1o th\u00e0nh c\u00e1c xu th\u1ebf gi\u00e1, trong \u0111\u00f3, quan tr\u1ecdng nh\u1ea5t l\u00e0 c\u00e1c xu th\u1ebf c\u1ea5p 1 (xu th\u1ebf ch\u00ednh hay xu th\u1ebf c\u01a1 b\u1ea3n). \u0110\u00e2y l\u00e0 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng t\u0103ng ho\u1eb7c gi\u1ea3m v\u1edbi qui m\u00f4 l\u1edbn,th\u01b0\u1eddng k\u00e9o d\u00e0i trong m\u1ed9t ho\u1eb7c nhi\u1ec1u n\u0103m v\u00e0 g\u00e2y ra s\u1ef1 t\u0103ng hay gi\u1ea3m \u0111\u1ebfn 20% gi\u00e1 c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu.Chuy\u1ec3n \u0111\u1ed9ng theo xu th\u1ebf c\u1ea5p 1 s\u1ebd b\u1ecb ng\u1eaft qu\u00e3ng b\u1edfi s\u1ef1 xen v\u00e0o c\u1ee7a c\u00e1c giao \u0111\u1ed9ng c\u1ea5p 2 theo h\u01b0\u1edbng \u0111\u1ed1i ngh\u1ecbch, g\u1ecdi l\u00e0 nh\u1eefng ph\u1ea3n \u1ee9ng hay \u0111i\u1ec1u ch\u1ec9nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Nh\u1eefng bi\u1ebfn \u0111\u1ed9ng n\u00e0y xu\u1ea5t hi\u1ec7n khi xu h\u01b0\u1edbng c\u1ea5p 1 t\u1ea1m th\u1eddi v\u01b0\u1ee3t qu\u00e1 m\u1ee9c \u0111\u1ed9 hi\u1ec7n t\u1ea1i c\u1ee7a b\u1ea3n th\u00e2n n\u00f3 (g\u1ecdi chung c\u00e1c bi\u1ebfn \u0111\u1ed9ng n\u00e0y l\u00e0 c\u00e1c bi\u1ebfn \u0111\u1ed9ng trung gian – bi\u1ebfn \u0111\u1ed9ng c\u1ea5p 2). Nh\u1eefng bi\u1ebfn \u0111\u1ed9ng c\u1ea5p 2 bao g\u1ed3m nh\u1eefng bi\u1ebfn \u0111\u1ed9ng gi\u00e1 nh\u1ecf hay g\u1ecdi l\u00e0 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng h\u00e0ng ng\u00e0y \u0111\u1ec1u kh\u00f4ng c\u00f3 \u00fd ngh\u0129a quan tr\u1ecdng trong L\u00fd thuy\u1ebft Dow.<\/span> <\/p>\n

3 – Xu th\u1ebf c\u1ea5p 1<\/b><\/span> <\/p>\n

Nh\u01b0 \u0111\u00e3 n\u00f3i \u0111\u1ebfn \u1edf ph\u1ea7n tr\u01b0\u1edbc, xu th\u1ebf c\u1ea5p 1 l\u00e0 nh\u1eefng chuy\u1ec3n \u0111\u1ed9ng l\u1edbn c\u1ee7a gi\u00e1, bao h\u00e0m c\u1ea3 th\u1ecb tr\u01b0\u1eddng, th\u01b0\u1eddng k\u00e9o d\u00e0i h\u01a1n 1 n\u0103m v\u00e0 c\u00f3 th\u1ec3 l\u00e0 trong v\u00e0i n\u0103m. N\u1ebfu nh\u01b0 m\u1ed7i \u0111\u1ee3t t\u0103ng gi\u00e1 li\u00ean ti\u1ebfp \u0111\u1ec1u \u0111\u1ea1t \u0111\u1ebfn m\u1ee9c cao h\u01a1n m\u1ee9c tr\u01b0\u1edbc \u0111\u00f3 v\u00e0 m\u1ed7i \u0111i\u1ec1u ch\u1ec9nh c\u1ea5p 2 \u0111\u1ec1u d\u1eebng l\u1ea1i \u1edf m\u1ee9c \u0111\u00e1y cao h\u01a1n m\u1ee9c \u0111\u00e1y c\u1ee7a l\u1ea7n \u0111i\u1ec1u ch\u1ec9nh tr\u01b0\u1edbc th\u00ec xu th\u1ebf c\u1ea5p 1 l\u00fac n\u00e0y l\u00e0 t\u0103ng gi\u00e1 – th\u1ecb tr\u01b0\u1eddng l\u00fac n\u00e0y l\u00e0 th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean (Bull Market). C\u00f2n ng\u01b0\u1ee3c l\u1ea1i n\u1ebfu m\u1ed7i bi\u1ebfn \u0111\u1ed9ng gi\u1ea3m \u0111\u1ec1u l\u00e0m cho gi\u00e1 xu\u1ed1ng nh\u1eefng m\u1ee9c th\u1ea5p h\u01a1n c\u00f2n m\u1ed7i \u0111i\u1ec1u ch\u1ec9nh \u0111\u1ec1u kh\u00f4ng \u0111\u1ee7 m\u1ea1nh \u0111\u1ec3 l\u00e0m cho gi\u00e1 t\u0103ng l\u00ean \u0111\u1ebfn m\u1ee9c \u0111\u1ec9nh c\u1ee7a nh\u1eefng \u0111\u1ee3t t\u0103ng gi\u00e1 tr\u01b0\u1edbc \u0111\u00f3 th\u00ec xu th\u1ebf c\u1ea5p 1 c\u1ee7a th\u1ecb tr\u01b0\u1eddng l\u00fac n\u00e0y l\u00e0 gi\u1ea3m gi\u00e1, th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng (Bear Market).Th\u00f4ng th\u01b0\u1eddng, v\u1ec1 l\u00fd thuy\u1ebft th\u00ec xu th\u1ebf c\u1ea5p 1 ch\u1ec9 l\u00e0 m\u1ed9t trong 3 lo\u1ea1i xu th\u1ebf m\u00e0 m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n quan t\u00e2m. M\u1ee5c \u0111\u00edch c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00f3 l\u00e0 mua ch\u1ee9ng kho\u00e1n c\u00e0ng s\u1edbm c\u00e0ng t\u1ed1t trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng l\u00ean gi\u00e1, s\u1edbm \u0111\u1ebfn m\u1ee9c anh ta c\u00f3 th\u1ec3 ch\u1eafc ch\u1eafn r\u1eb1ng m\u1edbi c\u00f3 duy nh\u1ea5t m\u00ecnh anh ta b\u1eaft \u0111\u1ea7u mua v\u00e0 sau \u0111\u00f3 n\u1eafm gi\u1eef \u0111\u1ebfn khi v\u00e0 ch\u1ec9 khi th\u1eddi k\u1ef3 “Bull Market” \u0111\u00e3 th\u1ef1c s\u1ef1 k\u1ebft th\u00fac v\u00e0 b\u1eaft \u0111\u1ea7u th\u1eddi k\u1ef3 “Bear Market”. Nh\u00e0 \u0111\u1ea7u t\u01b0 hi\u1ec3u r\u1eb1ng h\u1ecd c\u00f3 th\u1ec3 b\u1ecf qua m\u1ed9t c\u00e1ch an to\u00e0n t\u1ea5t c\u1ea3 nh\u1eefng s\u1ef1 xen v\u00e0o c\u1ee7a c\u00e1c \u0111i\u1ec1u ch\u1ec9nh c\u1ea5p 2 v\u00e0 c\u00e1c giao \u0111\u1ed9ng nh\u1ecf v\u00ec h\u1ecd \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n theo xu th\u1ebf ch\u00ednh c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Tuy nhi\u00ean v\u1edbi m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 ng\u1eafn h\u1ea1n th\u00ec nh\u1eefng bi\u1ebfn \u0111\u1ed9ng c\u1ee7a xu th\u1ebf c\u1ea5p 2 l\u1ea1i c\u00f3 vai tr\u00f2 quan tr\u1ecdng b\u1edfi h\u1ecd ki\u1ebfm l\u1ee3i nhu\u1eadn d\u1ef1a tr\u00ean nh\u1eefng bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/span> <\/p>\n

4 – Xu th\u1ebf c\u1ea5p 2<\/b><\/span> <\/p>\n

Xu th\u1ebf c\u1ea5p 2 l\u00e0 nh\u1eefng \u0111i\u1ec1u ch\u1ec9nh c\u00f3 t\u00e1c \u0111\u1ed9ng l\u00e0m gi\u00e1n \u0111o\u1ea1n qu\u00e1 tr\u00ecnh v\u1eadn \u0111\u1ed9ng c\u1ee7a gi\u00e1 theo xu th\u1ebf c\u1ea5p 1. Ch\u00fang l\u00e0 nh\u1eefng \u0111\u1ee3t suy gi\u1ea3m t\u1ea1m th\u1eddi (trung gian) hay c\u00f2n g\u1ecdi l\u00e0 nh\u1eefng \u0111i\u1ec1u ch\u1ec9nh xu\u1ea5t hi\u1ec7n \u1edf c\u00e1c th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean; ho\u1eb7c nh\u1eefng \u0111\u1ee3t t\u0103ng gi\u00e1 hay c\u00f2n g\u1ecdi l\u00e0 h\u1ed3i ph\u1ee5c xu\u1ea5t hi\u1ec7n \u1edf c\u00e1c th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng.Th\u01b0\u1eddng th\u00ec nh\u1eefng bi\u1ebfn \u0111\u1ed9ng trung gian n\u00e0y k\u00e9o d\u00e0i t\u1eeb 3 tu\u1ea7n \u0111\u1ebfn nhi\u1ec1u th\u00e1ng. Ch\u00fang s\u1ebd k\u00e9o th\u1ecb tr\u01b0\u1eddng ng\u01b0\u1ee3c l\u1ea1i kho\u1ea3ng 1\/3 \u0111\u1ebfn 2\/3 m\u1ee9c t\u0103ng (hay gi\u1ea3m t\u00f9y lo\u1ea1i th\u1ecb tr\u01b0\u1eddng) c\u1ee7a gi\u00e1 theo xu th\u1ebf c\u1ea5p 1. Do \u0111\u00f3, ch\u1eb3ng h\u1ea1n trong th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean, n\u1ebfu ch\u1ec9 s\u1ed1 gi\u00e1 b\u00ecnh qu\u00e2n c\u00f4ng nghi\u1ec7p t\u0103ng li\u00ean t\u1ee5c \u1ed5n \u0111\u1ecbnh ho\u1eb7c c\u00f3 gi\u00e1n \u0111o\u1ea1n r\u1ea5t nh\u1ecf v\u00e0 m\u1ee9c t\u0103ng \u0111\u1ea1t \u0111\u1ebfn 30 \u0111i\u1ec3m, khi \u0111\u00f3 xu\u1ea5t hi\u1ec7n xu th\u1ebf \u0111i\u1ec1u ch\u1ec9nh c\u1ea5p 2, th\u00ec ng\u01b0\u1eddi ta c\u00f3 th\u1ec3 tr\u00f4ng \u0111\u1ee3i xu th\u1ebf \u0111i\u1ec1u ch\u1ec9nh n\u00e0y c\u00f3 th\u1ec3 l\u00e0m gi\u1ea3m t\u1eeb 10 \u0111\u1ebfn 20 \u0111i\u1ec3m cho \u0111\u1ebfn khi th\u1ecb tr\u01b0\u1eddng l\u1eb7p l\u1ea1i xu th\u1ebf t\u0103ng c\u1ea5p 1 ban \u0111\u1ea7u c\u1ee7a n\u00f3.<\/span> <\/p>\n

D\u1eabu sao c\u0169ng c\u1ea7n l\u01b0u \u00fd l\u00e0 quy t\u1eafc gi\u1ea3m 1\/3 \u0111\u1ebfn 2\/3 kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t quy lu\u1eadt kh\u00f4ng th\u1ec3 ph\u00e1 v\u1ee1 m\u00e0 n\u00f3 \u0111\u01a1n gi\u1ea3n ch\u1ec9 l\u00e0 m\u1ed9t nh\u1eadn x\u00e9t v\u1ec1 kh\u1ea3 n\u0103ng c\u00f3 th\u1ec3 x\u1ea3y ra m\u00e0 h\u1ea7u h\u1ebft c\u00e1c bi\u1ebfn \u0111\u1ed9ng c\u1ea5p 2 \u0111\u1ec1u b\u1ecb gi\u1edbi h\u1ea1n trong m\u1ee9c n\u00e0y. R\u1ea5t nhi\u1ec1u trong s\u1ed1 \u0111\u00f3 ng\u1eebng t\u00e1c \u0111\u1ed9ng \u1edf \u0111i\u1ec3m g\u1ea7n v\u1edbi m\u1ee9c 50% m\u00e0 r\u1ea5t hi\u1ebfm khi \u0111\u1ea1t \u0111\u1ebfn m\u1ee9c 1\/3.<\/span> <\/p>\n

Nh\u01b0 v\u1eady c\u00f3 2 ti\u00eau ch\u00ed \u0111\u1ec3 nh\u1eadn \u0111\u1ecbnh m\u1ed9t xu th\u1ebf c\u1ea5p 2:<\/i><\/span> T\u1ea5t c\u1ea3 nh\u1eefng chuy\u1ec3n \u0111\u1ed9ng c\u1ee7a gi\u00e1 ng\u01b0\u1ee3c h\u01b0\u1edbng v\u1edbi xu th\u1ebf c\u1ea5p 1 k\u00e9o d\u00e0i \u00edt nh\u1ea5t 3 tu\u1ea7n v\u00e0 k\u00e9o ho\u00e0n l\u1ea1i \u00edt nh\u1ea5t 1\/3 m\u1ee9c bi\u1ebfn \u0111\u1ed9ng th\u1ee9c c\u1ee7a xu th\u1ebf c\u1ea5p 1 (t\u00ednh t\u1eeb \u0111i\u1ec3m k\u1ebft th\u00fac bi\u1ebfn \u0111\u1ed9ng c\u1ea5p 2 tr\u01b0\u1edbc \u0111\u00f3 \u0111\u1ebfn bi\u1ebfn \u0111\u1ed9ng c\u1ea5p 2 n\u00e0y, b\u1ecf qua nh\u1eefng giao \u0111\u1ed9ng nh\u1ecf) th\u00ec \u0111\u01b0\u1ee3c coi l\u00e0 thu\u1ed9c lo\u1ea1i trung gian hay c\u00f2n g\u1ecdi l\u00e0 bi\u1ebfn \u0111\u1ed9ng c\u1ea5p 2. M\u1eb7c d\u00f9 \u0111\u00e3 c\u00f3 nh\u1eefng ti\u00eau ch\u00ed \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh m\u1ed9t xu th\u1ebf c\u1ea5p 2 nh\u01b0ng v\u1eabn c\u00f3 nh\u1eefng kh\u00f3 kh\u0103n trong vi\u1ec7c x\u00e1c \u0111\u1ecbnh th\u1eddi \u0111i\u1ec3m h\u00ecnh th\u00e0nh v\u00e0 th\u1eddi gian t\u1ed3n t\u1ea1i c\u1ee7a xu th\u1ebf.<\/p>\n

5 – Xu th\u1ebf nh\u1ecf (Minor)<\/b><\/span> <\/p>\n

\u0110\u00e2y l\u00e0 nh\u1eefng giao \u0111\u1ed9ng trong th\u1eddi gian ng\u1eafn (d\u00e0i t\u1ed1i \u0111a 3 tu\u1ea7n, th\u01b0\u1eddng ch\u1ec9 d\u01b0\u1edbi 6 ng\u00e0y) m\u00e0 theo nh\u01b0 thuy\u1ebft Dow \u0111\u00e3 n\u00f3i \u0111\u1ebfn, b\u1ea3n th\u00e2n ch\u00fang kh\u00f4ng th\u1ef1c s\u1ef1 c\u00f3 \u00fd ngh\u0129a nh\u01b0ng ch\u00fang g\u00f3p ph\u1ea7n t\u1ea1o n\u00ean c\u00e1c xu th\u1ebf trung gian. Th\u00f4ng th\u01b0\u1eddng th\u00ec m\u1ed9t bi\u1ebfn \u0111\u1ed9ng trung gian d\u00f9 l\u00e0 m\u1ed9t xu th\u1ebf c\u1ea5p 2 hay l\u00e0 m\u1ed9t ph\u1ea7n c\u1ee7a xu th\u1ebf c\u1ea5p 1 xen gi\u1eefa hai xu th\u1ebf c\u1ea5p 2 li\u00ean ti\u1ebfp \u0111\u1ec1u \u0111\u01b0\u1ee3c t\u1ea1o th\u00e0nh t\u1eeb m\u1ed9t d\u00e3y g\u1ed3m 3 ho\u1eb7c nhi\u1ec1u h\u01a1n nh\u1eefng sang nh\u1ecf kh\u00e1c nhau. Xu th\u1ebf nh\u1ecf l\u00e0 d\u1ea1ng duy nh\u1ea5t trong 3 lo\u1ea1i xu th\u1ebf c\u00f3 th\u1ec3 b\u1ecb \u201cl\u00f4i k\u00e9o\u201d (b\u1ecb t\u00e1c \u0111\u1ed9ng). \u0110\u1ec3 t\u00e1c \u0111\u1ed9ng v\u00e0o xu th\u1ebf c\u1ea5p 1 v\u00e0 2 th\u00ec c\u1ea7n nh\u1eefng giao d\u1ecbch v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng r\u1ea5t l\u1edbn v\u00e0 \u0111i\u1ec1u n\u00e0y h\u1ea7u nh\u01b0 l\u00e0 kh\u00f4ng th\u1ec3.<\/span> <\/p>\n

\u0110\u1ec3 l\u00e0m r\u00f5 kh\u00e1i ni\u1ec7m v\u1ec1 3 xu th\u1ebf c\u1ee7a th\u1ecb tr\u01b0\u1eddng, ta c\u00f3 th\u1ec3 so s\u00e1nh v\u1edbi bi\u1ebfn \u0111\u1ed9ng c\u1ee7a s\u00f3ng bi\u1ec3n v\u1edbi m\u1ed9t s\u1ed1 \u0111i\u1ec3m gi\u1ed1ng nhau nh\u01b0 sau: Xu th\u1ebf c\u1ea5p 1 trong gi\u00e1 ch\u1ee9ng kho\u00e1n gi\u1ed1ng nh\u01b0 nh\u1eefng \u0111\u1ee3t th\u1ee7y tri\u1ec1u l\u00ean ho\u1eb7c xu\u1ed1ng.C\u00f3 th\u1ec3 so s\u00e1nh th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean (Bull Market) v\u1edbi th\u1ee7y tri\u1ec1u l\u00ean. Th\u1ee7y tri\u1ec1u d\u00e2ng n\u01b0\u1edbc l\u00ean b\u1edd bi\u1ec3n ng\u00e0y c\u00e0ng xa v\u00e0o s\u00e2u trong b\u1edd v\u00e0 \u0111\u1ebfn \u0111\u1ec9nh c\u1ee7a th\u1ee7y tri\u1ec1u th\u00ec l\u1ea1i quay ng\u01b0\u1ee3c tr\u1edf v\u1ec1 bi\u1ec3n. Khi th\u1ee7y tri\u1ec1u r\u00fat l\u1ea1i \u0111\u01b0\u1ee3c so s\u00e1nh v\u1edbi th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng (Bear Market). V\u00e0 cho d\u00f9 trong l\u00fac th\u1ee7y tri\u1ec1u l\u00ean hay xu\u1ed1ng th\u00ec lu\u00f4n c\u00f3 nh\u1eefng con s\u00f3ng \u0111\u1eadp v\u00e0o b\u1edd r\u1ed3i l\u1ea1i l\u00f9i l\u1ea1i v\u1ec1 bi\u1ec3n. Khi th\u1ee7y tri\u1ec1u l\u00ean, m\u1ed7i con s\u00f3ng li\u00ean ti\u1ebfp nhau v\u00e0o b\u1edd, s\u00f3ng sau v\u00e0o s\u00e2u h\u01a1n s\u00f3ng tr\u01b0\u1edbc l\u1ea1i g\u00f3p ph\u1ea7n l\u00e0m thu\u1ef7 tri\u1ec1u v\u00e0o xa h\u01a1n trong b\u1edd, nh\u01b0ng khi th\u1ee7y tri\u1ec1u xu\u1ed1ng m\u1ed7i con s\u00f3ng kh\u00f4ng mang n\u01b0\u1edbc ra xa b\u1edd m\u00e0 n\u01b0\u1edbc gi\u1ea3m xu\u1ed1ng l\u00e0 do s\u00f3ng sau v\u00e0o \u0111\u1ebfn b\u1edd \u1edf m\u1ee9c th\u1ea5p h\u01a1n(t\u1ee5t l\u1ea1i h\u01a1n) so v\u1edbi \u0111\u1ec9nh c\u1ee7a s\u00f3ng tr\u01b0\u1edbc, m\u1ed7i con s\u00f3ng do \u0111\u00f3 s\u1ebd tr\u1ea3 l\u1ea1i d\u1ea7n d\u1ea7n b\u1edd bi\u1ec3n nh\u01b0 tr\u01b0\u1edbc khi th\u1ee7y tri\u1ec1u l\u00ean. Nh\u1eefng con s\u00f3ng n\u00e0y l\u00e0 c\u00e1c xu th\u1ebf trung gian,c\u00f3 th\u1ec3 c\u1ea5p1 ho\u1eb7c c\u1ea5p 2 t\u00f9y thu\u1ed9c h\u01b0\u1edbng chuy\u1ec3n \u0111\u1ed9ng c\u1ee7a n\u00f3 so v\u1edbi h\u01b0\u1edbng c\u1ee7a th\u1ee7y tri\u1ec1u v\u00e0o th\u1eddi \u0111i\u1ec3m x\u1ea3y ra xu th\u1ebf \u0111\u00f3.<\/span> <\/p>\n

M\u1eb7t bi\u1ec3n c\u0169ng lu\u00f4n lu\u00f4n bi\u1ebfn \u0111\u1ed9ng v\u1edbi nh\u1eefng g\u1ee3n s\u00f3ng nh\u1ea5p nh\u00f4 chuy\u1ec3n \u0111\u1ed9ng c\u00f9ng chi\u1ec1u, ng\u01b0\u1ee3c chi\u1ec1u ho\u1eb7c chuy\u1ec3n \u0111\u1ed9ng ngang so v\u1edbi h\u01b0\u1edbng c\u1ee7a nh\u1eefng con s\u00f3ng l\u1edbn – nh\u1eefng g\u1ee3n s\u00f3ng n\u00e0y bi\u1ec3u hi\u1ec7n cho c\u00e1c xu th\u1ebf nh\u1ecf (nh\u1eefng giao \u0111\u1ed9ng h\u00e0ng ng\u00e0y c\u00f3 vai tr\u00f2 ko quan tr\u1ecdng nh\u01b0 \u0111\u00e3 n\u00f3i \u1edf ph\u1ea7n tr\u00ean). Nh\u1eefng \u0111\u1ee3t th\u1ee7y tri\u1ec1u, nh\u1eefng con s\u00f3ng v\u00e0 nh\u1eefng g\u1ee3n s\u00f3ng nh\u1ecf ch\u00ednh l\u00e0 nh\u1eefng h\u00ecnh \u1ea3nh so s\u00e1nh gi\u1ed1ng nh\u1ea5t \u0111\u1ed1i v\u1edbi nh\u1eefng bi\u1ebfn gi\u00e1 c\u1ee7a m\u1ed9t th\u1ecb tr\u01b0\u1eddng. \u0110i\u1ec1u n\u00e0y \u0111\u01b0\u1ee3c m\u00f4 t\u1ea3 c\u1ee5 th\u1ec3 h\u01a1n trong L\u00fd thuy\u1ebft S\u00f3ng Elliott, trong \u0111\u00f3 m\u1ecdi bi\u1ebfn \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ec1u g\u1eafn tr\u1ef1c ti\u1ebfp v\u1edbi c\u00e1c con s\u00f3ng… <\/span><\/p>\n

M\u1ed9t xu th\u1ebf t\u0103ng gi\u00e1 c\u01a1 b\u1ea3n th\u01b0\u1eddng bao g\u1ed3m 3 th\u1eddi k\u00ec.Th\u1eddi k\u00ec \u0111\u1ea7u ti\u00ean l\u00e0 qu\u00e1 tr\u00ecnh \u201ct\u00edch t\u1ee5\u201d. Trong qu\u00e1 tr\u00ecnh n\u00e0y, nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u1ea7m nh\u00ecn xa s\u1ebd ti\u1ebfn h\u00e0nh xem x\u00e9t c\u00e1c doanh nghi\u1ec7p, c\u00f3 th\u1ec3 v\u00e0o th\u1eddi k\u00ec n\u00e0y doanh nghi\u1ec7p \u0111ang suy tho\u00e1i nh\u01b0ng nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eadn th\u1ea5y kh\u1ea3 n\u0103ng doanh ngi\u1ec7p c\u00f3 th\u1ec3 chuy\u1ec3n bi\u1ebfn t\u00ecnh h\u00ecnh th\u00e0nh t\u0103ng tr\u01b0\u1edfng nhanh ch\u00f3ng,c\u00f3 th\u1ec3 gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a n\u00f3 s\u1ebd t\u0103ng trong th\u1eddi gian t\u1edbi…<\/span> <\/p>\n

6 – Th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean<\/b><\/span> <\/p>\n

M\u1ed9t xu th\u1ebf t\u0103ng gi\u00e1 c\u01a1 b\u1ea3n th\u01b0\u1eddng bao g\u1ed3m 3 th\u1eddi k\u00ec. <\/span><\/p>\n

Th\u1eddi k\u00ec \u0111\u1ea7u ti\u00ean l\u00e0 qu\u00e1 tr\u00ecnh \u201ct\u00edch t\u1ee5\u201d.<\/b><\/i><\/span> Trong qu\u00e1 tr\u00ecnh n\u00e0y, nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u1ea7m nh\u00ecn xa s\u1ebd ti\u1ebfn h\u00e0nh xem x\u00e9t c\u00e1c doanh nghi\u1ec7p, c\u00f3 th\u1ec3 v\u00e0o th\u1eddi k\u00ec n\u00e0y doanh nghi\u1ec7p \u0111ang suy tho\u00e1i nh\u01b0ng nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eadn th\u1ea5y kh\u1ea3 n\u0103ng doanh ngi\u1ec7p c\u00f3 th\u1ec3 chuy\u1ec3n bi\u1ebfn t\u00ecnh h\u00ecnh th\u00e0nh t\u0103ng tr\u01b0\u1edfng nhanh ch\u00f3ng,c\u00f3 th\u1ec3 gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a n\u00f3 s\u1ebd t\u0103ng trong th\u1eddi gian t\u1edbi. \u0110\u00e2y c\u0169ng l\u00e0 th\u1eddi \u0111i\u1ec3m m\u00e0 c\u1ed5 phi\u1ebfu n\u00e0y \u0111ang \u0111\u01b0\u1ee3c ch\u00e0o b\u00e1n r\u1ea5t nhi\u1ec1u b\u1edfi nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang c\u00f3 t\u00e2m l\u00fd r\u1ea5t ch\u00e1n n\u1ea3n v\u00e0 lo l\u1eafng v\u1ec1 t\u00ecnh tr\u1ea1ng c\u1ee7a nh\u1eefng c\u1ed5 phi\u1ebfu c\u1ee7a h\u1ecd v\u00e0 \u0111\u1ec3 nh\u1eb1m t\u0103ng d\u1ea7n gi\u00e1 ch\u00e0o b\u00e1n c\u1ee7a h\u1ecd khi th\u1ecb tr\u01b0\u1eddng xu\u1ea5t hi\u1ec7n s\u1ef1 suy gi\u1ea3m trong kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch. C\u00e1c b\u1ea3n b\u00e1o c\u00e1o t\u00e0i ch\u00ednh c\u1ee7a doanh nghi\u1ec7p \u0111\u00f3 c\u00f3 th\u1ec3 kh\u00f4ng t\u1ed1t th\u1eadm ch\u00ed t\u1ed3i, r\u1ea5t t\u1ed3i. Gi\u1edbi \u0111\u1ea7u t\u01b0 ho\u00e0n to\u00e0n c\u1ea3m th\u1ea5y th\u1ea5t v\u1ecdng khi tham gia v\u00e0o th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n b\u1edfi h\u1ecd th\u1ea5y ti\u1ec1n \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd \u0111ang gi\u1ea3m nhanh ch\u00f3ng v\u00e0 c\u00f3 nguy c\u01a1 c\u00f2n gi\u1ea3m n\u1eefa, v\u00ec v\u1eady m\u00e0 h\u1ecd mu\u1ed1n tho\u00e1t ra kh\u1ecfi th\u1ecb tr\u01b0\u1eddng.Tuy nhi\u00ean c\u00f3 th\u1ec3 nh\u1eadn th\u1ea5y m\u1ed9t \u0111i\u1ec1u v\u00e0o cu\u1ed1i giai \u0111o\u1ea1n th\u1ee9 nh\u1ea5t n\u00e0y l\u00e0 trong ho\u1ea1t \u0111\u1ed9ng c\u1ee7a c\u00f4ng ty v\u00e0 trong nh\u1eefng bi\u1ebfn \u0111\u1ed9ng tr\u00ean th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 c\u00f3 nh\u1eefng bi\u1ebfn chuy\u1ec3n tuy m\u1edbi ch\u1ec9 \u1edf m\u1ee9c h\u1ea1n ch\u1ebf, b\u1eaft \u0111\u1ea7u xu\u1ea5t hi\u1ec7n nh\u1eefng \u0111\u1ee3t t\u0103ng gi\u00e1 nh\u1ecf.<\/p>\n

Th\u1eddi k\u1ef3 th\u1ee9 2 l\u00e0 th\u1eddi k\u1ef3 c\u1ee7a s\u1ef1 t\u0103ng tr\u01b0\u1edfng kh\u00e1 v\u1eefng ch\u1eafc.<\/b><\/i><\/span> H\u1ecdat \u0111\u1ed9ng c\u1ee7a doanh ngi\u1ec7p \u0111ang theo d\u00f5i gia t\u0103ng m\u1ea1nh c\u00f9ng v\u1edbi nh\u1eefng kh\u1edfi s\u1eafc trong n\u1ed9i b\u1ed9 doanh nghi\u1ec7p v\u00e0 doanh thu c\u1ee7a n\u00f3 c\u0169ng t\u0103ng d\u1ea7n v\u00e0 b\u1eaft \u0111\u1ea7u thu h\u00fat c\u00e1c m\u1ed1i quan t\u00e2m tr\u00ean th\u1ecb tr\u01b0\u1eddng.\u0110\u00e2y ch\u00ednh l\u00e0 th\u1eddi k\u00ec mang l\u1ea1i nhi\u1ec1u l\u1ee3i nhu\u1eadn cho c\u00e1c nh\u00e0 kinh doanh ch\u1ee9ng kho\u00e1n theo tr\u01b0\u1eddng ph\u00e1i ph\u00e2n t\u00edch k\u0129 thu\u1eadt.<\/p>\n

Cu\u1ed1i c\u00f9ng l\u00e0 th\u1eddi k\u00ec th\u1ee9 3.<\/b><\/i><\/span> Trong th\u1eddi k\u00ec n\u00e0y th\u1ecb tr\u01b0\u1eddng s\u00f4i s\u1ee5c v\u1edbi nh\u1eefng bi\u1ebfn \u0111\u1ed9ng c\u1ee7a n\u00f3. C\u00f4ng ch\u00fang r\u1ea5t h\u00e1o h\u1ee9c v\u1edbi t\u1eebng bi\u1ebfn \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng.T\u1ea5t c\u1ea3 c\u00e1c th\u00f4ng tin t\u00e0i ch\u00ednh c\u1ee7a doanh nghi\u1ec7p \u0111\u01b0a ra \u0111\u1ec1u r\u1ea5t t\u1ed1t, gi\u00e1 ch\u1ee9ng kho\u00e1n t\u0103ng cao ngo\u00e0i s\u1ee9c t\u01b0\u1edfng t\u01b0\u1ee3ng v\u00e0 \u0111ang l\u00e0 nh\u1eefng v\u1ea5n \u0111\u1ec1 n\u00f3ng h\u1ed5i \u0111\u01b0\u1ee3c \u0111\u01b0a l\u00ean trang \u0111\u1ea7u c\u1ee7a c\u00e1c t\u1edd b\u00e1o ra h\u00e0ng ng\u00e0y.Th\u1eddi \u0111i\u1ec3m n\u00e0y c\u00f3 l\u1ebd \u0111\u00e3 l\u00e0 2 n\u0103m k\u1ec3 t\u1eeb khi th\u1ecb tr\u01b0\u1eddng b\u1eaft \u0111\u1ea7u \u0111i l\u00ean,nh\u1eefng ng\u01b0\u1eddi \u00edt kinh nghi\u1ec7m c\u00f3 th\u1ec3 cho r\u1eb1ng th\u1ecb tr\u01b0\u1eddng l\u00fac n\u00e0y m\u1edbi ch\u1eafc ch\u1eafn cho l\u1ee3i nhu\u1eadn c\u1ee7a h\u1ecd v\u00e0 mu\u1ed1n tham gia v\u00e0o th\u1ecb tr\u01b0\u1eddng. Nh\u01b0ng th\u1ef1c s\u1ee5 th\u00ec sau 2 n\u0103m, gi\u00e1 \u0111\u00e3 t\u0103ng kh\u00e1 cao, c\u00e2u h\u1ecfi n\u00ean \u0111\u1eb7t ra v\u00e0o l\u00fac n\u00e0y l\u00e0 \u201cn\u00ean b\u00e1n c\u1ed5 phi\u1ebfu n\u00e0o\u201d ch\u1ee9 kh\u00f4ng c\u00f2n l\u00e0 \u201cn\u00ean mua c\u1ed5 phi\u1ebfu n\u00e0o\u201d n\u1eefa.V\u00e0o cu\u1ed1i th\u1eddi k\u00ec th\u1ee9 3, ng\u01b0\u1eddi ta c\u00f3 th\u1ec3 th\u1ea5y n\u1ea1n \u0111\u1ea7u c\u01a1 tr\u00e0n lan, kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch v\u1eabn ti\u1ebfp t\u1ee5c t\u0103ng nh\u01b0ng \u201cair-pocket\u201d xu\u1ea5t hi\u1ec7n v\u00e0 c\u0169ng gia t\u0103ng th\u01b0\u1eddng xuy\u00ean,s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 th\u1ea5p nh\u01b0ng kh\u00f4ng c\u00f3 gi\u00e1 tr\u1ecb \u0111\u1ea7u t\u01b0 c\u0169ng gia t\u0103ng v\u00e0 c\u1ea3 nh\u1eefng \u0111\u1ee3t ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu c\u0169ng \u00edt d\u1ea7n \u0111i.
\n<\/span><\/p>\n

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7 – Th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng<\/b><\/span> <\/p>\n

Xu th\u1ebf gi\u1ea3m gi\u00e1 c\u1ee7a th\u1ecb tr\u01b0\u1eddng c\u0169ng \u0111\u01b0\u1ee3c chia th\u00e0nh 3 th\u1eddi k\u00ec.<\/span> <\/p>\n

Th\u1eddi k\u1ef3 \u0111\u1ea7u ti\u00ean l\u00e0 th\u1eddi k\u1ef3 \u201cph\u00e2n b\u1ed5\u201d (th\u1eddi k\u1ef3 n\u00e0y th\u1ef1c s\u1ef1 b\u1eaft \u0111\u1ea7u \u1edf giai \u0111o\u1ea1n cu\u1ed1i c\u1ee7a th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean tr\u01b0\u1edbc \u0111\u00f3).<\/b><\/i><\/span> Trong th\u1eddi k\u1ef3 n\u00e0y nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u1ea7m nh\u00ecn xa \u0111\u1ec1u nh\u1eadn th\u1ea5y r\u1eb1ng doanh thu c\u1ee7a nh\u1eefng c\u00f4ng ty m\u00e0 h\u1ecd \u0111ang n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu \u0111\u1ec1u \u0111ang \u0111\u1ea1t m\u1ee9c cao kh\u00f4ng b\u00ecnh th\u01b0\u1eddng v\u00e0 h\u1ecd mu\u1ed1n nhanh ch\u00f3ng tho\u00e1t kh\u1ecfi c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty n\u00e0y. Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch v\u1eabn r\u1ea5t cao m\u1eb7c d\u00f9 \u0111\u00e3 c\u00f3 nh\u1eefng d\u1ea5u hi\u1ec7u c\u1ee7a xu h\u01b0\u1edbng gi\u1ea3m, c\u00f4ng ch\u00fang v\u1eabn r\u1ea5t \u201cn\u0103ng \u0111\u1ed9ng\u201d nh\u01b0ng c\u0169ng b\u1eaft \u0111\u1ea7u c\u00f3 d\u1ea5u hi\u1ec7u lo l\u1eafng v\u00e0 c\u0169ng kh\u00f4ng c\u00f2n nhi\u1ec1u k\u1ef3 v\u1ecdng ki\u1ebfm l\u1ee3i nhu\u1eadn.<\/p>\n

Th\u1eddi k\u1ef3 th\u1ee9 2 \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 th\u1eddi k\u1ef3 h\u1ed7n lo\u1ea1n.<\/b><\/i><\/span> S\u1ed1 l\u01b0\u1ee3ng ng\u01b0\u1eddi mua b\u1eaft \u0111\u1ea7u gi\u1ea3m d\u1ea7n v\u00e0 nh\u1eefng ng\u01b0\u1eddi b\u00e1n b\u1eaft \u0111\u1ea7u tr\u1edf n\u00ean v\u1ed9i v\u00e3 b\u00e1n \u0111i nh\u1eefng c\u1ed5 phi\u1ebfu m\u00ecnh \u0111ang n\u1eafm gi\u1eef. Xu th\u1ebf gi\u1ea3m gi\u00e1 b\u1eaft \u0111\u1ea7u t\u0103ng m\u1ea1nh l\u00e0m \u0111\u1ed3 th\u1ecb gi\u00e1 g\u1ea7n nh\u01b0 d\u1ed1c th\u1eb3ng xu\u1ed1ng v\u00e0 kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch \u0111\u1ea1t \u0111\u1ebfn m\u1ee9c \u0111\u1ec9nh \u0111i\u1ec3m. Giai \u0111o\u1ea1n n\u00e0y \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 h\u1ed7n lo\u1ea1n v\u00ec s\u1ef1 s\u1ee5t gi\u1ea3m th\u01b0\u1eddng x\u1ea3y ra r\u1ea5t tr\u1ea7m tr\u1ecdng th\u1eadm ch\u00ed l\u00e0 th\u00e1i qu\u00e1 v\u1edbi m\u1ee9c \u0111\u1ed9 v\u01b0\u1ee3t qu\u00e1 c\u1ea3 th\u1ef1c tr\u1ea1ng c\u1ee7a c\u00e1c doanh nghi\u1ec7p. Sau giai \u0111o\u1ea1n h\u1ed7n lo\u1ea1n c\u00f3 th\u1ec3 c\u00f3 giai \u0111o\u1ea1n h\u1ed3i ph\u1ee5c(m\u1ed9t d\u1ea1ng xu th\u1ebf c\u1ea5p 2) ho\u1eb7c m\u1ed9t giai \u0111o\u1ea1n giao \u0111\u1ed9ng ngang c\u1ee7a th\u1ecb tr\u01b0\u1eddng (c\u00e1c giao \u0111\u1ed9ng kh\u00f4ng c\u00f3 h\u01b0\u1edbng \u0111i l\u00ean hay \u0111i xu\u1ed1ng m\u00e0 l\u00e0 giao \u0111\u1ed9ng trong m\u1ed9t kho\u1ea3ng c\u1ed1 \u0111\u1ecbnh theo chi\u1ec1u ngang c\u1ee7a th\u1ecb tr\u01b0\u1eddng) trong m\u1ed9t th\u1eddi gian t\u01b0\u01a1ng \u0111\u1ed1i d\u00e0i. Giai \u0111o\u1ea1n n\u00e0y th\u1ec3 hi\u1ec7n t\u00e2m l\u00fd ch\u00e1n n\u1ea3n c\u1ee7a m\u1ed9t b\u1ed9 ph\u1eadn nh\u00e0 \u0111\u1ea7u t\u01b0,h\u1ecd c\u0169ng ch\u00ednh l\u00e0 nh\u1eefng ng\u01b0\u1eddi \u0111\u00e3 c\u1ed1 g\u1eafng n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu qua th\u1eddi k\u1ef3 h\u1ed7n lo\u1ea1n tr\u01b0\u1edbc \u0111\u00f3 ho\u1eb7c c\u0169ng c\u00f3 th\u1ec3 l\u00e0 nh\u1eefng ng\u01b0\u1eddi \u0111\u00e3 mua c\u1ed5 phi\u1ebfu trong th\u1eddi k\u1ef3 \u0111\u00f3 b\u1edfi v\u00ec l\u00fac \u0111\u00f3 gi\u00e1 c\u1ee7 c\u1ed5 phi\u1ebfu r\u00f5 r\u00e0ng l\u00e0 r\u1ebb h\u01a1n r\u1ea5t nhi\u1ec1u so v\u1edbi tr\u01b0\u1edbc \u0111\u00f3 v\u00e0i th\u00e1ng. Th\u00f4ng tin v\u1ec1 c\u00e1c doanh nghi\u1ec7p ng\u00e0y c\u00e0ng x\u1ea5u \u0111i. K\u1ebft th\u00fac giai \u0111o\u1ea1n n\u00e0y m\u1edbi b\u01b0\u1edbc v\u00e0o th\u1eddi k\u1ef3 th\u1ee9 3.<\/p>\n

V\u00e0o th\u1eddi k\u1ef3 th\u1ee9 3,<\/b><\/i><\/span> xu th\u1ebf \u0111i xu\u1ed1ng tr\u00ean th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 y\u1ebfu d\u1ea7n, nh\u01b0ng l\u1ea1i \u0111\u01b0\u1ee3c duy tr\u00ec b\u1edfi nh\u1eefng l\u1ec7nh b\u00e1n nhi\u1ec1u v\u00e0 li\u00ean t\u1ee5c th\u1ec3 hi\u1ec7n \u201cn\u1ed7i bu\u1ed3n\u201d v\u00e0 s\u1ef1 lo l\u1eafng c\u1ee7a nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang r\u1ea5t c\u1ea7n ti\u1ec1n cho nh\u1eefng nhu c\u1ea7u ri\u00eang c\u1ee7a h\u1ecd. C\u00e1c c\u1ed5 phi\u1ebfu \u0111\u1ec1u gi\u1ea3m \u0111\u1ebfn m\u1ee9c th\u1ea5p nh\u1ea5t, th\u1eadm ch\u00ed g\u1ea7n nh\u01b0 m\u1ea5t ho\u00e0n to\u00e0n gi\u00e1 tr\u1ecb. Nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 ch\u1ea5t l\u01b0\u1ee3ng cao h\u1ea7u nh\u01b0 kh\u00f4ng \u0111\u01b0\u1ee3c giao d\u1ecbch v\u00ec nh\u1eefng ng\u01b0\u1eddi s\u1edf h\u1eefu ch\u00fang \u0111\u1ec1u mu\u1ed1n n\u1eafm gi\u1eef \u0111\u1ebfn c\u00f9ng. \u1ede giai \u0111o\u1ea1n cu\u1ed1i c\u1ee7a th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng, nh\u01b0 m\u1ed9t k\u1ebft qu\u1ea3 c\u1ee7a to\u00e0n b\u1ed9 th\u1eddi k\u1ef3 gi\u1ea3m gi\u00e1 tr\u01b0\u1edbc,c\u1ea3 th\u1ecb tr\u01b0\u1eddng ch\u1ec9 t\u1eadp trung v\u00e0o giao d\u1ecbch m\u1ed9t s\u1ed1 lo\u1ea1i c\u1ed5 phi\u1ebfu. Th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng k\u1ebft th\u00fac t\u1ea5t c\u1ea3 v\u1edbi nh\u1eefng tin x\u1ea5u v\u1ec1 c\u00e1c doanh nghi\u1ec7p, v\u1ec1 th\u1ecb tr\u01b0\u1eddng \u1edf m\u1ee9c c\u00f3 th\u1ec3 coi l\u00e0 t\u1ed3i t\u1ec7 nh\u1ea5t \u0111\u00e3 th\u1ec3 hi\u1ec7n ra v\u00e0 c\u00f3 th\u1ec3 \u0111\u1ebfn.<\/p>\n

8 – Hai \u0111\u01b0\u1eddng ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n c\u1ee7a th\u1ecb tr\u01b0\u1eddng ph\u1ea3i c\u00f9ng x\u00e1c nh\u1eadn xu th\u1ebf c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/b><\/span> <\/p>\n

\u0110\u00e2y l\u00e0 c\u00e2u h\u1ecfi th\u01b0\u1eddng xuy\u00ean \u0111\u1eb7t ra nh\u1ea5t v\u00e0 c\u0169ng kh\u00f3 gi\u1ea3i th\u00edch nh\u1ea5t \u0111\u1ed1i v\u1edbi h\u1ec7 th\u1ed1ng c\u00e1c nguy\u00ean l\u00fd c\u1ee7a l\u00fd thuy\u1ebft Dow.Tuy nhi\u00ean t\u1eeb khi \u0111\u01b0\u1ee3c \u0111\u01b0a ra cho \u0111\u1ebfn nay n\u00f3 \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1eddi gian ch\u1ee9ng minh t\u00ednh \u0111\u00fang \u0111\u1eafn v\u00e0 n\u00f3 v\u1eabn \u0111\u01b0\u1ee3c v\u1eadn d\u1ee5ng cho \u0111\u1ebfn ng\u00e0y nay v\u00e0 b\u1ea5t k\u00ec m\u1ed9t ai khi xem x\u00e9t nh\u1eefng s\u1ed1 li\u1ec7u ghi l\u1ea1i th\u00ec \u0111\u1ec1u kh\u00f4ng th\u1ec3 c\u00f3 \u00fd ki\u1ebfn ph\u1ea3n \u0111\u1ed1i v\u1edbi nguy\u00ean l\u00fd n\u00e0y.C\u00f2n v\u1edbi nh\u1eefng ng\u01b0\u1eddi \u00edt quan t\u00e2m hay b\u1ecf qua nguy\u00ean l\u00fd n\u00e0y th\u00ec trong th\u1ef1c t\u1ebf kinh doanh s\u1ebd ph\u1ea3i nhi\u1ec1u l\u1ea7n ti\u1ebfc nu\u1ed1i. \u0110i\u1ec1u nguy\u00ean l\u00fd n\u00e0y mu\u1ed1n n\u00f3i \u0111\u1ebfn \u0111\u00f3 l\u00e0 kh\u00f4ng th\u1ec3 c\u00f3 m\u1ed9t d\u1ea5u hi\u1ec7u ch\u00ednh x\u00e1c n\u00e0o v\u1ec1 s\u1ef1 thay \u0111\u1ed5i xu th\u1ebf th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ra ch\u1ec9 th\u00f4ng qua xem x\u00e9t bi\u1ebfn \u0111\u1ed9ng c\u1ee7a duy nh\u1ea5t m\u1ed9t lo\u1ea1i ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n (\u1edf \u0111\u00e2y mu\u1ed1n n\u00f3i \u0111\u1ebfn nh\u1eefng th\u1ecb tr\u01b0\u1eddng bao g\u1ea7m nhi\u1ec1u ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n,ch\u1eb3ng h\u1ea1n nh\u01b0 \u1edf M\u0129, nh\u01b0 n\u00f3i \u1edf ph\u1ea7n \u0111\u1ea7u, c\u00f3 hai lo\u1ea1i ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n).<\/span> <\/p>\n

9 – Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch \u00e1p d\u1ee5ng k\u00e8m v\u1edbi xu th\u1ebf th\u1ecb tr\u01b0\u1eddng<\/b><\/span> <\/p>\n

\u0110i\u1ec1u n\u00e0y th\u1ec3 hi\u1ec7n m\u1ed9t th\u1ef1c t\u1ebf l\u00e0 khi gi\u00e1 bi\u1ebfn \u0111\u1ed9ng theo \u0111\u00fang xu th\u1ebf c\u1ea5p 1 th\u00ec c\u00e1c h\u1ecdat \u0111\u1ed9ng kinh doanh tr\u00ean c\u00f3 xu h\u01b0\u1edbng m\u1edf r\u1ed9ng h\u01a1n. Do v\u1eady, v\u1edbi th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean, kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch s\u1ebd t\u0103ng n\u1ebfu gi\u00e1 t\u0103ng,v\u00e0 s\u1ebd thu l\u1ea1i n\u1ebfu gi\u00e1 gi\u1ea3m; v\u1edbi th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng, gi\u00e1 tr\u1ecb giao d\u1ecbch s\u1ebd t\u0103ng n\u1ebfu gi\u00e1 gi\u1ea3m v\u00e0 \u00edt khi gi\u00e1 c\u00f3 d\u1ea5u hi\u1ec7u ph\u1ee5c h\u1ed3i. \u0110i\u1ec1u n\u00e0y v\u1eabn \u0111\u00fang \u1edf m\u1ee9c \u0111\u1ed9 th\u1ea5p h\u01a1n t\u1ee9c l\u00e0 v\u1edbi nh\u1eefng xu th\u1ebf c\u1ea5p 2, \u0111\u1eb7c bi\u1ec7t l\u00e0 trong giai \u0111o\u1ea1n \u0111\u1ea7u c\u1ee7a m\u1ed9t xu th\u1ebf h\u1ed3i ph\u1ee5c c\u1ea5p 2 trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng, khi m\u00e0 c\u00e1c di\u1ec5n bi\u1ebfn c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ec9 ra r\u1eb1ng gi\u00e1 s\u00e9 t\u0103ng l\u00ean theo m\u1ed9t s\u1ed1 \u0111\u1ee3t t\u0103ng gi\u00e1 nh\u1ecf, c\u00f2n c\u00e1c bi\u1ebfn \u0111\u1ed9ng k\u00e9o gi\u00e1 xu\u1ed1ng gi\u1ea3m \u0111i. C\u00e1c k\u1ebft lu\u1eadn \u1edf \u0111\u00e2y th\u01b0\u1eddng kh\u00f4ng c\u00f3 gi\u00e1 tr\u1ecb n\u1ebfu ch\u1ec9 d\u1ef1a tr\u00ean di\u1ec5n bi\u1ebfn trong v\u00e0i ng\u00e0y v\u00e0 c\u00e0ng kh\u00f4ng c\u00f3 gi\u00e1 tr\u1ecb v\u1edbi nh\u1eefng k\u1ebft lu\u1eadn d\u1ef1a tr\u00ean m\u1ed9t phi\u00ean giao d\u1ecbch \u0111\u01a1n l\u1ebb.Nguy\u00ean l\u00fd n\u00e0y ch\u1ec9 ph\u00e1t huy hi\u1ec7u qu\u1ea3 n\u1ebfu d\u1ef1a tr\u00ean nh\u1eefng di\u1ec5n bi\u1ebfn c\u1ee7a kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch chung trong th\u1eddi gian giao d\u1ecbch t\u01b0\u01a1ng \u0111\u1ed1i d\u00e0i .H\u01a1n n\u1eefa, theo L\u00fd thuy\u1ebft Dow th\u00ec ch\u1ec9 d\u1ef1a tr\u00ean nh\u1eefng ph\u00e2n t\u00edch v\u1ec1 gi\u00e1 m\u1edbi c\u00f3 th\u1ec3 \u0111\u01b0a ra \u0111\u01b0\u1ee3c nh\u1eefng d\u1ea5u hi\u1ec7u mang t\u00ednh quy\u1ebft \u0111\u1ecbnh v\u1ec1 xu th\u1ebf th\u1ecb tr\u01b0\u1eddng,c\u00f2n kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch ch\u1ec9 c\u00f3 th\u1ec3 cung c\u1ea5p th\u00eam nh\u1eefng ch\u1ee9ng c\u1ee9 ph\u1ee5 \u0111\u1ec3 gi\u1ea3i th\u00edch r\u00f5 h\u01a1n bi\u1ebfn \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 s\u1eed d\u1ee5ng v\u00e0o nh\u1eefng t\u00ecnh hu\u1ed1ng khi d\u1ea5u hi\u1ec7u ch\u00ednh t\u1ecf ra c\u00f2n nhi\u1ec1u nghi ng\u1edd.<\/span> <\/p>\n

10 – \u0110\u01b0\u1eddng ngang c\u00f3 th\u1ec3 thay th\u1ebf cho c\u00e1c xu th\u1ebf c\u1ea5p 2<\/b><\/span> <\/p>\n

\u0110\u01b0\u1eddng ngang theo \u0111\u1ecbnh ngh\u0129a c\u1ee7a L\u00fd thuy\u1ebft Dow l\u00e0 nh\u1eefng chuy\u1ec3n \u0111\u1ed9ng ngang c\u00f3 t\u00ednh ch\u1ea5t trung gian c\u1ee7a th\u1ecb tr\u01b0\u1eddng ph\u1ea3n \u00e1nh th\u1eddi k\u1ef3 m\u00e0 gi\u00e1 bi\u1ebfn \u0111\u1ed9ng r\u1ea5t \u00edt (v\u1edbi th\u1ecb tr\u01b0\u1eddng M\u0129 l\u00e0 nh\u1ecf h\u01a1n ho\u1eb7c b\u1eb1ng 5%). \u0110\u01b0\u1eddng ngang th\u01b0\u1eddng k\u00e9o d\u00e0i t\u1eeb 2 \u0111\u1ebfn 3 tu\u1ea7n ho\u1eb7c \u0111\u00f4i khi l\u00e0 l\u00e2u h\u01a1n (trong v\u00e0i th\u00e1ng). Khi th\u1ecb tr\u01b0\u1eddng xu\u1ea5t hi\u1ec7n m\u00f4 h\u00ecnh d\u1ea1ng \u0111\u01b0\u1eddng ngang, \u0111i\u1ec1u n\u00e0y ch\u1ec9 ra r\u1eb1ng \u00e1p l\u1ef1c c\u1ee7a cung v\u00e0 c\u1ea7u tr\u00ean th\u1ecb tr\u01b0\u1eddng l\u00e0 t\u01b0\u01a1ng \u0111\u1ed1i c\u00e2n b\u1eb1ng. Th\u1ef1c t\u1ebf trong giai \u0111o\u1ea1n n\u00e0y c\u00e1c l\u1ec7nh \u0111\u1eb7t mua ho\u1eb7c b\u00e1n \u0111\u1ec1u th\u1ec3 hi\u1ec7n m\u1ed9t s\u1ef1 ki\u1ec7t s\u1ee9c .Nh\u1eefng ng\u01b0\u1eddi mu\u1ed1n mua c\u1ed5 phi\u1ebfu th\u00ec ph\u1ea3i t\u0103ng m\u1ee9c gi\u00e1 ch\u00e0o mua \u0111\u1ec3 khuy\u1ebfn kh\u00edch ng\u01b0\u1eddi c\u00f3 c\u1ed5 phi\u1ebfu m\u00e0 h\u1ecd mu\u1ed1n b\u00e1n cho h\u1ecd,c\u00f2n nh\u1eefng ng\u01b0\u1eddi mu\u1ed1n b\u00e1n th\u00ec v\u1edbi th\u1ecb tr\u01b0\u1eddng c\u00f3 bi\u1ebfn \u0111\u1ed9ng d\u1ea1ng \u0111\u01b0\u1eddng ngang h\u1ecd th\u1ea5y r\u1eb1ng s\u1ed1 l\u01b0\u1ee3ng ng\u01b0\u1eddi mua \u0111ang \u00edt d\u1ea7n v\u00e0 k\u1ebft qu\u1ea3 l\u00e0 h\u1ecd ph\u1ea3i gi\u1ea3m gi\u00e1 \u0111\u1ec3 c\u00f3 th\u1ec3 b\u00e1n \u0111\u01b0\u1ee3c nh\u1eefng c\u1ed5 phi\u1ebfu c\u1ee7a m\u00ecnh. Do v\u1eady m\u1ed9t m\u1ee9c gi\u00e1 giao \u0111\u1ed9ng v\u01b0\u1ee3t ra ngo\u00e0i m\u1ee9c giao \u0111\u1ed9ng c\u1ee7a m\u00f4 h\u00ecnh \u0111\u01b0\u1eddng ngang \u0111ang xu\u1ea5t hi\u1ec7n tr\u00ean th\u1ecb tr\u01b0\u1eddng s\u1ebd l\u00e0 m\u1ed9t d\u1ea5u hi\u1ec7u r\u00f5 r\u00e0ng cho m\u1ed9t th\u1ecb tr\u01b0\u1eddng l\u00ean ho\u1eb7c xu\u1ed1ng gi\u00e1 t\u00f9y thu\u1ed9c v\u00e0o h\u01b0\u1edbng c\u1ee7a giao \u0111\u1ed9ng v\u01b0\u1ee3t ra ngo\u00e0i. Nh\u00ecn chung m\u00f4 h\u00ecnh \u0111\u01b0\u1eddng ngang c\u00e0ng k\u00e9o d\u00e0i l\u00e2u v\u00e0 bi\u00ean \u0111\u1ed9 giao \u0111\u1ed9ng c\u00e0ng nh\u1ecf th\u00ec \u00fd ngh\u0129a c\u1ee7a giao \u0111\u1ed9ng v\u01b0\u1ee3t ra ngo\u00e0i m\u00f4 h\u00ecnh \u0111\u01b0\u1eddng ngang c\u00e0ng l\u1edbn.<\/span> <\/p>\n

M\u00f4 h\u00ecnh \u0111\u01b0\u1eddng ngang th\u01b0\u1eddng di\u1ec5n ra d\u00e0i v\u1eeba \u0111\u1ee7 \u0111\u1ec3 kho\u1ea3ng th\u1eddi gian t\u1ed3n t\u1ea1i c\u1ee7a n\u00f3 mang m\u1ed9t \u00fd ngh\u0129a quan tr\u1ecdng \u0111\u1ed1i v\u1edbi nh\u1eefng ng\u01b0\u1eddi ph\u00e2n t\u00edch th\u1ecb tr\u01b0\u1eddng theo tr\u01b0\u1eddng ph\u00e1i Dow. Nh\u1eefng bi\u1ebfn \u0111\u1ed9ng v\u01b0\u1ee3t ra ngo\u00e0i m\u00f4 h\u00ecnh \u0111\u01b0\u1eddng ngang c\u00f3 th\u1ec3 l\u00e0 d\u1ea5u hi\u1ec7u cho th\u1ea5y m\u00f4 h\u00ecnh n\u00e0y ch\u00ednh l\u00e0 nh\u1eefng m\u1ee9c \u0111\u1ec9nh ho\u1eb7c \u0111\u00e1y r\u1ea5t quan tr\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng b\u1edfi n\u1ebfu l\u00e0 \u0111\u1ec9nh th\u00ec \u0111\u00f3 ch\u00ednh l\u00e0 giai \u0111o\u1ea1n \u201cph\u00e2n b\u1ed5\u201d- giai \u0111o\u1ea1n ban \u0111\u1ea7u c\u1ee7a m\u1ed9t th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng; c\u00f2n n\u1ebfu d\u1ea5u hi\u1ec7u cho th\u1ea5y n\u00f3 c\u00f3 th\u1ec3 l\u00e0 m\u1ee9c \u0111\u00e1y c\u1ee7a th\u1ecb tr\u01b0\u1eddng th\u00ec \u0111\u00e2y l\u00e0 giai \u0111o\u1ea1n \u201ct\u00edch t\u1ee5\u201d – giai \u0111o\u1ea1n \u0111\u1ea7u c\u1ee7a m\u1ed9t th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean.Th\u00f4ng th\u01b0\u1eddng nh\u1ea5t, n\u00f3 \u0111\u00f3ng vai tr\u00f2 nh\u01b0 m\u1ed9t th\u1eddi k\u1ef3 y\u00ean t\u0129nh thu\u1ed9c giai \u0111o\u1ea1n cu\u1ed1i c\u00f9ng trong qu\u00e1 tr\u00ecnh h\u00ecnh th\u00e0nh ho\u1eb7c thu\u1ed9c giai \u0111o\u1ea1n c\u1ee7ng c\u1ed1 xu th\u1ebf c\u1ea5p 1 c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Trong nh\u1eefng tr\u01b0\u1eddng h\u1ee3p \u0111\u00f3 m\u00f4 h\u00ecnh n\u00e0y \u0111\u00f3ng vai tr\u00f2 nh\u01b0 nh\u1eefng s\u00f3ng c\u1ea5p 2. M\u1ee9c bi\u1ebfn \u0111\u1ed9ng 5% c\u0169ng ho\u00e0n to\u00e0n ch\u1ec9 l\u00e0 m\u1ed9t m\u1ee9c bi\u00ean \u0111\u1ed9 \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh theo kinh nghi\u1ec7m b\u1edfi tr\u00ean th\u1ef1c t\u1ebf r\u1eb1ng m\u00f4 h\u00ecnh \u0111\u01b0\u1eddng ngang c\u00f3 r\u1ea5t nhi\u1ec1u \u0111i\u1ec3m t\u01b0\u01a1ng \u0111\u1ed3ng v\u1edbi m\u00f4 h\u00ecnh c\u0169ng c\u00f3 nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng ngang v\u1edbi bi\u00ean \u0111\u1ed9 l\u1edbn h\u01a1n nh\u01b0ng hai bi\u00ean c\u1ee7a n\u00f3 v\u1eabn \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh kh\u00e1 r\u00f5 r\u00e0ng v\u00e0 t\u01b0\u01a1ng \u0111\u1ed1i chu\u1ea9n n\u00ean c\u0169ng \u0111\u01b0\u1ee3c t\u00ednh l\u00e0 m\u1ed9t lo\u1ea1i m\u00f4 h\u00ecnh \u0111\u01b0\u1eddng ngang.<\/span> <\/p>\n

11 – Ch\u1ec9 s\u1eed d\u1ee5ng m\u1ee9c gi\u00e1 \u0111\u00f3ng c\u1eeda \u0111\u1ec3 nghi\u00ean c\u1ee9u<\/b><\/p>\n

L\u00fd thuy\u1ebft Dow kh\u00f4ng quan t\u00e2m v\u00e0 \u00edt \u0111\u1ec1 cao \u0111\u1ebfn c\u00e1c m\u1ee9c bi\u1ebfn \u0111\u1ed9ng gi\u00e1 (th\u1eadm ch\u00ed l\u00e0 c\u1ea3 m\u1ee9c gi\u00e1 cao nh\u1ea5t v\u00e0 th\u1ea5p nh\u1ea5t) trong ng\u00e0y m\u00e0 ch\u1ec9 quan t\u00e2m \u0111\u1ebfn nh\u1eefng s\u1ed1 li\u1ec7u cu\u1ed1i ng\u00e0y giao d\u1ecbch, ch\u1eb3ng h\u1ea1n nh\u01b0 m\u1ee9c b\u00ecnh qu\u00e2n gi\u00e1 b\u00e1n cu\u1ed1i c\u00f9ng trong ng\u00e0y.<\/span> <\/p>\n

Xem x\u00e9t m\u1ed9t th\u1ecb tr\u01b0\u1eddng v\u1edbi xu th\u1ebf c\u01a1 b\u1ea3n l\u00e0 t\u0103ng gi\u00e1 v\u00e0 \u0111ang \u1edf th\u1eddi \u0111i\u1ec3m gi\u00e1 t\u0103ng v\u00e0 \u0111\u1ea1t m\u1ee9c \u0111\u1ec9nh c\u1ee7a ng\u00e0y h\u00f4m \u0111\u00f3 v\u00e0o 11 gi\u1edd s\u00e1ng, gi\u1ea3 s\u1eed l\u00fac \u0111\u00f3 ch\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n c\u00f4ng nghi\u1ec7p \u0111ang l\u00e0 152.45 sau \u0111\u00f3 l\u1ea1i gi\u1ea3m xu\u1ed1ng m\u1ee9c gi\u00e1 \u0111\u00f3ng c\u1eeda l\u00e0 150.70. \u0110\u1ec3 c\u00f3 th\u1ec3 x\u00e1c nh\u1eadn th\u1ecb tr\u01b0\u1eddng v\u1eabn \u0111ang trong xu th\u1ebf c\u01a1 b\u1ea3n l\u00e0 t\u0103ng gi\u00e1 th\u00ec \u1edf \u0111\u1ee3t t\u0103ng gi\u00e1 ti\u1ebfp theo m\u1ee9c gi\u00e1 \u0111\u00f3ng c\u1eeda ph\u1ea3i cao h\u01a1n 150.70 . Trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y m\u1ee9c \u0111\u1ec9nh 152.45 kh\u00f4ng \u0111\u01b0\u1ee3c quan t\u00e2m \u0111\u1ebfn. Tr\u00e1i l\u1ea1i n\u1ebfu \u1edf \u0111\u1ee3t th\u1ee9 2, d\u00f9 gi\u00e1 c\u00f3 \u0111\u1ea1t \u0111\u1ebfn m\u1ee9c \u0111\u1ec9nh \u1edf 152.60 nh\u01b0ng gi\u00e1 \u0111\u00f3ng c\u1eeda l\u1ea1i nh\u1ecf h\u01a1n 150.70 th\u00ec ho\u00e0n to\u00e0n c\u00f3 c\u01a1 s\u1edf \u0111\u1ec3 nghi ng\u1edd li\u1ec7u xu th\u1ebf t\u0103ng gi\u00e1 hi\u1ec7n t\u1ea1i c\u00f3 c\u00f2n ti\u1ebfp t\u1ee5c hay kh\u00f4ng.<\/span> <\/p>\n

Trong nh\u1eefng n\u1eafm g\u1ea7n \u0111\u00e2y, nhi\u1ec1u \u00fd ki\u1ebfn \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u01b0a ra xung quanh v\u1ea5n \u0111\u1ec1 li\u1ec7u ch\u1ec9 s\u1ed1 gi\u00e1 b\u00ecnh qu\u00e2n ph\u1ea3i t\u0103ng th\u00eam hay gi\u1ea3m \u0111i bao nhi\u00eau so v\u1edbi gi\u1edbi h\u1ea1n \u0111\u1ea1t \u0111\u01b0\u1ee3c c\u1ee7a \u0111\u1ee3t giao \u0111\u1ed9ng gi\u00e1 tr\u01b0\u1edbc (\u0111\u1ec9nh ho\u1eb7c \u0111\u00e1y) \u0111\u1ec3 c\u00f3 th\u1ec3 b\u00e1o hi\u1ec7u (x\u00e1c nh\u1eadn m\u1ed9t xu th\u1ebf m\u1edbi ho\u1eb7c x\u00e1c nh\u1eadn l\u1ea1i xu th\u1ebf hi\u1ec7n t\u1ea1i) xu th\u1ebf th\u1ecb tr\u01b0\u1eddng. Dow v\u00e0 Hamilton lu\u00f4n r\u1ea5t c\u1ea9n th\u1eadn trong vi\u1ec7c xem x\u00e9t b\u1ea5t c\u1ee9 m\u1ed9t giao \u0111\u1ed9ng nh\u1ecf n\u00e0o xen v\u00e0o xu th\u1ebf hi\u1ec7n t\u1ea1i l\u00e0m gi\u00e1 thay \u0111\u1ed5i th\u1eadm ch\u00ed \u0111\u1ebfn 0.01 v\u00e0 hai \u00f4ng \u0111\u1ec1u cho r\u1eb1ng d\u1ea5u hi\u1ec7u \u0111\u00f3 ho\u00e0n to\u00e0n c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t d\u1ea5u hi\u1ec7t \u0111\u00fang. Nh\u01b0ng ng\u00e0y nay nhi\u1ec1u nh\u00e0 ph\u00e2n t\u00edch cho r\u1eb1ng m\u1ee9c thay \u0111\u1ed5i \u0111\u00f3 ph\u1ea3i \u0111\u1ea1t \u00edt nh\u1ea5t 1.00 m\u1edbi c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c coi l\u00e0 m\u1ed9t d\u1ea5u hi\u1ec7u c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/span> <\/p>\n

12 – M\u1ed9t xu th\u1ebf c\u1ea7n \u0111\u01b0\u1ee3c gi\u1ea3 \u0111\u1ecbnh r\u1eb1ng v\u1eabn \u0111ang ti\u1ebfp t\u1ee5c cho \u0111\u1ebfn khi c\u00f3 m\u1ed9t d\u1ea5u hi\u1ec7u th\u1ef1c s\u1ef1 v\u1ec1 s\u1ef1 \u0111\u1ea3o chi\u1ec1u c\u1ee7a xu th\u1ebf \u0111\u00f3 \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh<\/b><\/span> <\/p>\n

Nguy\u00ean l\u00fd n\u00e0y l\u00e0 m\u1ed9t trong nh\u1eefng nguy\u00ean l\u00fd c\u00f3 nhi\u1ec1u \u00fd ki\u1ebfn tranh c\u00e3i nh\u1ea5t. Nh\u01b0ng nguy\u00ean l\u00fd n\u00e0y khi \u0111\u01b0\u1ee3c hi\u1ec3u ch\u00ednh x\u00e1c v\u1eabn c\u00f3 gi\u00e1 tr\u1ecb r\u1ea5t l\u1edbn trong ph\u00e2n t\u00edch th\u1ecb tr\u01b0\u1eddng. Nguy\u00ean l\u00fd n\u00e0y gi\u00fap \u0111\u1ec1 ph\u00f2ng v\u1edbi nh\u1eefng thay \u0111\u1ed5i qu\u00e1 s\u1edbm trong quan \u0111i\u1ec3m v\u1ec1 th\u1ecb tr\u01b0\u1eddng nh\u1eefng ph\u1ea3n \u1ee9ng qu\u00e1 s\u1edbm,theo nh\u01b0 ch\u00fang ta hay n\u00f3i l\u00e0 c\u1ea7m \u0111\u00e8n ch\u1ea1y tr\u01b0\u1edbc \u00f4 t\u00f4, c\u1ee7a b\u1ea5t k\u00ec nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00e0o. \u0110i\u1ec1u n\u00e0y kh\u00f4ng nh\u1eb1m l\u00e0m nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u00ec ho\u00e3n h\u00e0nh \u0111\u1ed9ng c\u1ee7a m\u00ecnh l\u1ea1i m\u1ed9t c\u00e1ch kh\u00f4ng c\u1ea7n thi\u1ebft,cho d\u00f9 l\u00e0 ch\u1ec9 m\u1ed9t ph\u00fat, khi nh\u1eefng d\u1ea5u hi\u1ec7u v\u1ec1 s\u1ef1 thay \u0111\u1ed5i c\u1ee7a xu th\u1ebf th\u1ecb tr\u01b0\u1eddng l\u00e0 \u0111\u00e3 r\u00f5 r\u00e0ng, nh\u01b0ng n\u00f3 nh\u1eafc nh\u1edf m\u1ed9t \u0111i\u1ec1u r\u1eb1ng l\u1ee3i th\u1ebf s\u1ebd nghi\u00eang v\u1ec1 ph\u00eda nh\u1eefng ng\u01b0\u1eddi bi\u1ebft ch\u1edd \u0111\u1ee3i cho \u0111\u1ebfn khi h\u1ecd ch\u1eafc ch\u1eafn v\u1ec1 t\u00ecnh h\u00ecnh th\u1ecb tr\u01b0\u1eddng v\u00e0 r\u00f5 r\u00e0ng s\u1ebd kh\u00f4ng nghi\u00eang v\u1ec1 nh\u1eefng ng\u01b0\u1eddi qu\u00e1 n\u00f4n n\u00f3ng v\u1edbi h\u00e0nh \u0111\u1ed9ng c\u1ee7a h\u1ecd. Kh\u1ea3 n\u0103ng x\u1ea3y kh\u00f4ng th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e1t hi\u1ec7n m\u1ed9t c\u00e1ch r\u00f5 r\u00e0ng b\u1edfi b\u1ea3n ch\u1ea5t c\u1ee7a n\u00f3 l\u00e0 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng th\u1ef1c t\u1ebf c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 ch\u00fang thay \u0111\u1ed5i th\u01b0\u1eddng xuy\u00ean. Th\u1ecb tr\u01b0\u1eddng gi\u00e1 l\u00ean kh\u00f4ng th\u1ec3 l\u00ean gi\u00e1 m\u00e3i v\u00e0 th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng th\u00ec s\u1edbm mu\u1ed9n c\u0169ng \u0111\u1ea1t \u0111\u1ebfn \u0111\u00e1y c\u1ee7a n\u00f3. Khi m\u1ed9t xu th\u1ebf c\u1ea5p 1 c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1eeba m\u1edbi \u0111\u01b0\u1ee3c h\u00ecnh th\u00e0nh th\u00ec cho d\u00f9 c\u00f3 nh\u1eefng giao \u0111\u1ed9ng trong ng\u1eafn h\u1ea1n ta v\u1eabn c\u00f3 th\u1ec3 ch\u1eafc ch\u1eafn r\u1eb1ng n\u00f3 kh\u00f4ng thay \u0111\u1ed5i, nh\u01b0ng n\u1ebfu n\u00f3 k\u00e9o d\u00e0i c\u00e0ng l\u00e2u th\u00ec m\u1ee9c ch\u1eafc ch\u1eafn c\u00e0ng \u00edt d\u1ea7n \u0111i,c\u00e1c \u0111i\u1ec3m t\u00e1i x\u00e1c nh\u1eadn xu th\u1ebf th\u1ecb tr\u01b0\u1eddng c\u0169ng c\u00f3 gi\u00e1 tr\u1ecb \u00edt d\u1ea7n \u0111i. \u0110\u1ed9ng l\u1ef1c c\u1ee7a ng\u01b0\u1eddi mua v\u00e0 kh\u1ea3 n\u0103ng b\u00e1n \u0111\u01b0\u1ee3c nh\u1eefng c\u1ed5 phi\u1ebfu v\u1edbi gi\u00e1 cao h\u01a1n gi\u00e1 mua \u0111\u1ec3 ki\u1ebfm l\u1eddi s\u1ebd ng\u00e0y c\u00e0ng th\u1ea5p n\u1ebfu nh\u01b0 Bull Market \u0111\u00e3 t\u1ed3n t\u1ea1i trong nhi\u1ec1u th\u00e1ng v\u00e0 r\u00f5 r\u00e0ng l\u00e0 th\u1ea5p h\u01a1n khi n\u00f3 m\u1edbi h\u00ecnh th\u00e0nh. Nguy\u00ean l\u00fd th\u1ee9 12 c\u1ee7a Dow n\u00f3i r\u1eb1ng \u201cMaking your position pending contrary orders\u201d.<\/span> <\/p>\n

M\u1ed9t h\u1ec7 qu\u1ea3 t\u1ea5t y\u1ebfu t\u1eeb nguy\u00ean l\u00fd n\u00e0y \u0111\u00f3 l\u00e0 khi \u0111\u00e3 c\u00f3 nh\u1eefng d\u1ea5u hi\u1ec7u v\u1ec1 s\u1ef1 thay \u0111\u1ed5i c\u1ee7a xu th\u1ebf th\u1ecb tr\u01b0\u1eddng th\u00ec s\u1ef1 thay \u0111\u1ed5i \u0111\u00f3 c\u00f3 th\u1ec3 x\u1ea3y ra b\u1ea5t c\u1ee9 l\u00fac n\u00e0o. V\u00ec v\u1eady b\u1ea5t c\u1ee9 nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00e0o c\u0169ng c\u1ea7n ph\u1ea3i theo d\u00f5i th\u1ecb tr\u01b0\u1eddng m\u1ed9t c\u00e1ch th\u01b0\u1eddng xuy\u00ean.<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"

L\u00fd thuy\u1ebft Dow l\u00e0 c\u01a1 s\u1edf \u0111\u1ea7u ti\u00ean cho m\u1ecdi nghi\u00ean c\u1ee9u k\u0129 thu\u1eadt tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. M\u1eb7c d\u00f9 n\u00f3 th\u01b0\u1eddng b\u1ecb coi l\u00e0 tr\u1ec5 so v\u1edbi th\u1ecb tr\u01b0\u1eddng v\u00e0 b\u1ecb nhi\u1ec1u ng\u01b0\u1eddi ch\u1ec9 tr\u00edch, nh\u01b0ng n\u00f3 v\u1eabn \u0111\u01b0\u1ee3c \u0111\u00f4ng \u0111\u1ea3o nh\u1eefng ng\u01b0\u1eddi c\u00f3 quan t\u00e2m \u0111\u1ebfn v\u00e0 t\u00f4n tr\u1ecdng. R\u1ea5t nhi\u1ec1u ng\u01b0\u1eddi…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-328","post","type-post","status-publish","format-standard","hentry","category-phan-tich-ky-thuat"],"_links":{"self":[{"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/posts\/328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/comments?post=328"}],"version-history":[{"count":0,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/posts\/328\/revisions"}],"wp:attachment":[{"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/media?parent=328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/categories?post=328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/tags?post=328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}