pg. 1INTEGRANTES:Anyela Fernandez Pachao Pamela Rozas ChambillaTania Toro DiazJorge Acero CRS!:ANA"ISIS FINANCIER!D!CENTE:"I#ERTAD TERCER!SCIC"!:$II % &A' TACNA % PER()*+,ANALISIS DEL MERCADO BURSATILUniversidad Privada de TacnaFacultad de Ciencias EmpresarialesEscuela Pr!esinal de Ciencias Cnta"les # Financieras INDICEINTRODUCCION.....3HISTORIA..4CAPITULO I: MERCADO BURSTIL1. DEFINICION.......52. FINALIDAD.....63. TIPOS DE ANALISIS......63.1.ANALISIS FUNDAMENTAL...6. A!"#$#$ M%&'(%'!)*#%'.6+. A!"#$#$ ,( S(%-'&..%. A!"#$#$ I!$-#-/%#'!"...- A!"#$#$ TOP0DO1N..- A!"#$#$ BOTTOM0UP.....3.1.1. L$ T2%!#%$ ,( A!"#$#$ F/!,*(!-"..3. A!"#$#$ ,( E$-,'$ F#!!%#(&'$..3- A!"#$#$ ,( E$-,'$ F#!!%#(&'$ P&'p'&%#'!"($..3- A!"#$#$ ,( R4'!($ F#!!%#(&$..5+. A!"#$#$ ,( R4'!($ B/&$-#"($5%. 6!,#%($ +/&$-#"($..5,. M/"-#p"#%,'&($ 7 '-&$ &(8(&(!%#$.....133.2.A!"#$#$ T2%!#%'.................1.3.2.1. T#p'$ ,( T(!,(!%#..133.2.2. C"$#9%%#)!..13CONCLUSIONES15BIBLIO:RAFIA.2;pg. 2INTRODUCCIONS(%'!$#,(&" *(&%,'+/&$-#" %'*'/!' ,( "$ %'*p?@ -&A2$,(#!%&(*(!-'(!"p&-#%#p%#)!%%#'!,(*(%!#$*'$,((!,(/,*#(!-' ,#&(%-' 7 -*+#2! " %&(%#*#(!-' %/"#--#A' ,( " %"#,, ,(g($-#)! ,( "$ %'*p?@$ =/( p&-#%#p! (! (" *(&%,' +/&$-#".D(+( (B#$-#& /! %&(%#*#(!-'%/!-#--#A'7%/"#--#A',(" %'*p?@=/(%'-#4 (! (" *(&%,' +/&$-#" 7 =/(($ &(" p& "$ $'%#(,,($ ,( %p#-"pA,' -*+#2! ,(+#(& p"#%&$( p& "$ %'*p?@$ ,( %p#-" pC+"#%'.E!-'!%($ /! M(&%,' B/&$-#" %/(!- %'! -','$ "'$ ("(*(!-'$ =/( $(&(=/#(&( p& =/( $( ""*,' *(&%,'D /! "'%"D =/( ($$'! "$ O9%#!$ '(" E,#9%#',(" B'"$ ,( E"'&($F ,(*!,!-($D =/( $'! "'$ #!A(&$#'!#$-$' %'*p&,'&($F '8(&(!-($D =/( p/(,(! $(&"'$(*#$'&($ ,#&(%-*(!-('"$C$,( C'&&(,'&($ ,( B'"$ 7/! #!$-#-/%#)! &(g/",'&. C,/!' ,( ($-'$ ("(*(!-'$ ($ #*p'&-!-( ( #*p&($%#!,#+"( $/ p&($(!%# p&""(A&%+' -&!$%%#'!($ +/&$-#"($S( p&(-(!,( ,(*$ '(!-&7 %"&&,( /! *!(& */7*p"#%(&% ,(" $#g!#9%,' ,( -2&*#!'$ */7 p&'p#'$,(" M(&%,' B/&$-#"D$@ %'*'-*+#2!#!,g&"'=/(($ /! A!"#$#$ F/!,*(!-" 7 /!A!"#$#$ T2%!#%' ,( " B'"$ ,( E"'&($ 7 !"#4& /! %$' p&-#%/"& ,( /!A!"#$- E%'!)*#%' (! " p&($(!-( #!8'&*%#)! +!,,.Historia del Mercado Burstilpg. 3A!-#g/*(!-(D $( %'!$#,(&+ *(&%,' C!#%*(!-( ""/g& (! ("%/"$(&(/!@!%'*p&,'&($7A(!,(,'&($p!-(&%*+#&,#8(&(!-($+#(!($7$(&A#%#'$. A/!=/( ($-( -#p' ,( *(&%,'$ C! (B#$-(! (! */%(-#A'p!%#p" ,(" !"#$#$ +/&$-#" %'!$#$-((!,(-(&*#!& (" A"'& ,("'$#!$-&/*(!-'$,(#!A(&$#)!(B#$-(!-($ (!"'$*(&%,'$+/&$-#"($D (!8/!%#)! ,( "'$ #!-(&($( ,( "'$ #!A(&$#'!#$-$E" *(&%,'B/&$-#" ($"#!-(g&%#)!,(-',$=/(""$I!$-#-/%#'!($DE*p&($$ ' I!,#A#,/'$ =/( &("#4! -&!$%%#'!($ ,( p&',/%-'$9!!%#(&'$D (!-&( (""'$ $( (!%/(!-&! " B'"$ ,( E"'&($D C$$C'&&(,'&($ ,( B'"$ ,( E"'&($D E*#$'&($D I!A(&$#'!#$-$ ( #!$-#-/%#'!($&(g/",'&$ ,( "$ -&!$%%#'!($ =/( $( ""(A!%+' (! " B'"$ ,(E"'&($.E!-'!%($ /! M(&%,' B/&$-#"%/(!- %'! -','$"'$ ("(*(!-'$ =/( $(&(=/#(&( p& =/( $( ""*,' *(&%,'D /! "'%"D =/( ($ $'! "$O9%#!$ ' (" E,#9%#' ,( " B'"$ ,( E"'&($F ,(*!,!-($D =/( $'! "'$#!A(&$#'!#$-$' %'*p&,'&($F'8(&(!-($D=/( p/(,(!$(& "'$ (*#$'&($,#&(%-*(!-( ' "$ C$ ,( C'&&(,'&($ ,( B'"$ 7 /! #!$-#-/%#)!&(g/",'&. C, /!' ,( ($-'$ ("(*(!-'$ ($ #*p'&-!-( (#*p&($%#!,#+"( $/ p&($(!%# p& ""(A&%+' -&!$%%#'!($ +/&$-#"($.2. FINALIDADS(&A#& ,( $'p'&-( p& " g($-#)! ,( #!A(&$#'!($.3. TIPOS DE ANALISIS3.1.ANALISIS FUNDAMENTAL L p*(& %'&(!-( ,(" !"#$#$ +/&$-#" ($ " =/( $( %'!'%( %'*'A!"#$#$ F/!,*(!-"D " %/" p&-( ,( " p&(*#$ ,( =/( (" A"'& ,(/! -@-/"' ($- ,(-(&*#!,' ($(!%#"*(!-( p'& "'$ &($/"-,'$(%'!)*#%'$ 9!!%#(&'$ ,(" (*#$'&D 7 p!%#p"*(!-( p'& ("p'-(!%#" g(!(&,'& ,( +(!(9%#'$ ,(" *#$*' p& (" #!A(&$#'!#$-.L /-#"#4%#)! ,( ($-( -#p' ,( !"#$#$ $/p'!( =/( "'$ #!A(&$#'!#$-$-'*! $/$ ,(%#$#'!($ ,( #!A(&$#)! ,( %/(&,'%-('$ &%#'!"($(! *-( 9!!%#(&. A" 9!" $( +/$% &(%'*(!,&"'$#!A(&$#'!#$-$ (" %'*p&&D *!-(!(& ' A(!,(& -@-/"'$p&-#& ,( "$%'!$#,(&%#'!($ $'+&( (" ,($(*p(?' ,( "'$ (*#$'&($ 7 " %"#,,,( $/$ (*#$#'!($. E" !"#$#$ 8/!,*(!-" #*p"#% (" ($-/,#'D -!-'9!!%#(&' %'*' !' 9!!%#(&'D ,( -', " #!8'&*%#)! ,#$p'!#+"( (!(" *(&%,' =/( 8(%-"'$ A"'&($ %'! (" '+>(-#A' ,( ""(A&%+'pg. 5#!A(&$#'!($ (9%#(!-($D ($-( ($-/,#' %'*p&(!,( g(!(&"*(!-( -&($($-&-'$D "'$ %/"($ $( p&($(!-!%'!-#!/%#)!.a! A"lisis Macroeco"#$icoD (" %/" ($-/,# " &("%#)!(B#$-(!-((!-&("$ g&!,($ A+"($ *%&'D -"($ %'*'"#!K%#)!D "-$,(#!-(&2$ 7(" !#A(" ,((*p"('D $'+&((",($(*p(?' ,( "'$ (*#$'&($ ,( -@-/"'$ (! +'"$. %! A"lisisdeSectorD (" %/" ($-/,#"'$%#%"'$p&'p#'$,("#!,/$-" =/( p(&-(!(%(! "'$ (*#$'&($D $@ %'*' "$8'&-"(4$D 'p'&-/!#,,($D ,(+#"#,,($ 7 *(!4$F($-+"(%#(!,' " &("%#)! ,( ($-'$ 8%-'&($ %'! "'$ &($/"-,'$,( "'$ (*#$'&($. c! A"lisis I"stitucio"alD (" %/" ($-/,# (" p&'p#' ,($(*p(?' ,("(!-#,,(*#$'&p&-#& ,($/$%'!,#%#'!($"(g"($7,(g($-#)!,*#!#$-&-#AD 'p(&-#A79!!%#(&. P(&'" *#$*'-#(*p'D (" !"#$#$ ,( ($-'$ ($-&-'$ $( p/(,( %'!%(+#& ,( ,'$,#8(&(!-($ *!(&$D ,( " *!(& $#g/#(!-(:- A"lisis TO&'DO(ND (" %/" %'*#(!4 !"#4!,' ("(!-'&!' *%&'(%'!)*#%' 7 $/ #*p%-' $'+&( (",($(*p(?' ,( %, $(%-'& #!,/$-"(! p&-#%/"&D p&9!"#4& ,(-(&*#!!,' (" #*p%-' ,(" $(%-'& $'+&( (",($(*p(?' ,( "$ (!-#,,($ (*#$'&$.pg. 6- A"lisisBOTTOM'U&)(" %/" p&-(,(" ($-/,#',("'$(*#$'&($ (! p*(& #!$-!%#D p& "/(g',(-(&*#!&%'*' "'$ (*#$'&($ (! $/ %'!>/!-' %'!9g/&! (",($(*p(?' ,(" $(%-'& #!,/$-" %'&&($p'!,#(!-(D%'!%"/7(!,' %'! (" #*p%-' ,( "'$ $(%-'&($ $'+&( "$#-/%#)! *%&'(%'!)*#% (! g(!(&". E! ($-( %/&$''p-&(*'$ p'& ("!"#$#$ BOTTOM0UP 7 =/( ($ ("*$8%#" ,( +'&,& ,($,( (" p/!-' ,( A#$- ,#,%-#%'.*.1.1.Las T+c"icas de A"lisis u"da$e"talL$-2%!#%$,(!"#$#$8/!,*(!-"D ,($,((" (!8'=/(BOTTOM0UPD%'*p&(!,(!p*(&'!"#4& "(!-#,,D "/(g'$/#*p%-'$'+&(("$(%-'& 7D 9!"*(!-( (" #*p%-' $'+&( (" (!-'&!' *%&'(%'!)*#%'. E! 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