{"id":302083,"date":"2025-07-11T22:41:26","date_gmt":"2025-07-11T22:41:26","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/tar-stock-2\/"},"modified":"2025-07-11T22:41:26","modified_gmt":"2025-07-11T22:41:26","slug":"tar-stock","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/tr\/knowledge-base\/markets\/tar-stock\/","title":{"rendered":"TAR Hisse Senedi: 2024 Veri Analizi ve Karl\u0131 Yat\u0131r\u0131m Stratejisi"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":50,"featured_media":259764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[28,39,45],"class_list":["post-302083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-investment","tag-platform","tag-stock"],"acf":{"h1":"Pocket Option TAR hisse senedinin derinlemesine analizi: Yat\u0131r\u0131m F\u0131rsat\u0131 3. \u00c7eyrek\/2024","h1_source":{"label":"H1","type":"text","formatted_value":"Pocket Option TAR hisse senedinin derinlemesine analizi: Yat\u0131r\u0131m F\u0131rsat\u0131 3. \u00c7eyrek\/2024"},"description":"TAR Hisse Senedi - Q2\/2024 finansal verileri, hedef fiyat tahmini ve Vietnaml\u0131 yat\u0131r\u0131mc\u0131lar i\u00e7in etkili yat\u0131r\u0131m stratejisi ile \u00f6zel analiz. Pocket Option, piyasa \u00f6nemli \u00f6l\u00e7\u00fcde dalgalanmadan \u00f6nce bug\u00fcn ihtiyac\u0131n\u0131z olan derinlemesine analiz ara\u00e7lar\u0131n\u0131 sa\u011flar.","description_source":{"label":"Description","type":"textarea","formatted_value":"TAR Hisse Senedi - Q2\/2024 finansal verileri, hedef fiyat tahmini ve Vietnaml\u0131 yat\u0131r\u0131mc\u0131lar i\u00e7in etkili yat\u0131r\u0131m stratejisi ile \u00f6zel analiz. Pocket Option, piyasa \u00f6nemli \u00f6l\u00e7\u00fcde dalgalanmadan \u00f6nce bug\u00fcn ihtiyac\u0131n\u0131z olan derinlemesine analiz ara\u00e7lar\u0131n\u0131 sa\u011flar."},"intro":"TAR hisselerinin (Tien Son Thanh Hoa Anonim \u015eirketi) kapsaml\u0131 analizi, 2024 2. \u00c7eyrek finansal verileri, en son teknik g\u00f6stergeler ve zaman dilimine g\u00f6re yat\u0131r\u0131m stratejileri ile birlikte. Makale, piyasa konumu, %17-20 b\u00fcy\u00fcme beklentileri ve \u00f6nemli fiyat seviyeleri hakk\u0131nda ayr\u0131nt\u0131l\u0131 bilgiler sunarak Vietnaml\u0131 yat\u0131r\u0131mc\u0131lar\u0131n mevcut piyasa ko\u015fullar\u0131nda etkili yat\u0131r\u0131m kararlar\u0131 almalar\u0131na yard\u0131mc\u0131 olmaktad\u0131r.","intro_source":{"label":"Intro","type":"text","formatted_value":"TAR hisselerinin (Tien Son Thanh Hoa Anonim \u015eirketi) kapsaml\u0131 analizi, 2024 2. \u00c7eyrek finansal verileri, en son teknik g\u00f6stergeler ve zaman dilimine g\u00f6re yat\u0131r\u0131m stratejileri ile birlikte. Makale, piyasa konumu, %17-20 b\u00fcy\u00fcme beklentileri ve \u00f6nemli fiyat seviyeleri hakk\u0131nda ayr\u0131nt\u0131l\u0131 bilgiler sunarak Vietnaml\u0131 yat\u0131r\u0131mc\u0131lar\u0131n mevcut piyasa ko\u015fullar\u0131nda etkili yat\u0131r\u0131m kararlar\u0131 almalar\u0131na yard\u0131mc\u0131 olmaktad\u0131r."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>TAR hisse senedi ve mevcut piyasa pozisyonunun genel g\u00f6r\u00fcn\u00fcm\u00fc<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>TAR hisse senedi - Tien Son Thanh Hoa Anonim \u015eirketi'nin menkul k\u0131ymetler kodu - 2010 y\u0131l\u0131ndan bu yana HNX borsas\u0131nda i\u015flem g\u00f6rmekte olup, mevcut piyasa de\u011feri 610 milyar VND (24,4 milyon USD'ye e\u015fde\u011fer) seviyesindedir. 2024'\u00fcn ilk 6 ay\u0131nda TAR hisse senedi %8,7 artarken, VN-Index sadece %3,2 artt\u0131 ve genel piyasaya k\u0131yasla nispeten \u00fcst\u00fcn bir g\u00fc\u00e7 g\u00f6sterdi.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>418,5 milyar VND'lik bir sermaye ile Tien Son Thanh Hoa Anonim \u015eirketi, \u015fu anda Kuzey Orta b\u00f6lgesinde in\u015faat sekt\u00f6r\u00fcnde lider bir kurulu\u015ftur. \u015eirket, son 5 y\u0131lda 3'\u00fc Kuzey-G\u00fcney otoyolu projesine ait olan ve toplam de\u011feri 1.200 milyar VND'yi a\u015fan 50'den fazla b\u00fcy\u00fck ve k\u00fc\u00e7\u00fck projeyi ba\u015far\u0131yla tamamlam\u0131\u015ft\u0131r.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>TAR hisse senedini mevcut ba\u011flamda de\u011ferlendirmek, Vietnam'\u0131n in\u015faat sekt\u00f6r\u00fcn\u00fcn durumunu dikkate almay\u0131 gerektirir. \u0130n\u015faat Bakanl\u0131\u011f\u0131'n\u0131n en son verilerine g\u00f6re, in\u015faat sekt\u00f6r\u00fc 2023 y\u0131l\u0131nda %8,5'lik bir b\u00fcy\u00fcme oran\u0131 kaydetti ve kamu yat\u0131r\u0131mlar\u0131n\u0131n h\u0131zland\u0131r\u0131lmas\u0131 sayesinde 2024 y\u0131l\u0131nda %8,8-9,2'ye ula\u015fmas\u0131 bekleniyor. 2024 i\u00e7in toplam kamu yat\u0131r\u0131m sermayesi 670.000 milyar VND'ye ula\u015farak in\u015faat sekt\u00f6r\u00fc i\u015fletmeleri i\u00e7in b\u00fcy\u00fck bir itici g\u00fc\u00e7 yarat\u0131yor.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Finansal G\u00f6stergeler<\/th><th>2021<\/th><th>2022<\/th><th>2023<\/th><th>6A\/2024<\/th><\/tr><\/thead><tbody><tr><td>Gelir (milyar VND)<\/td><td>512<\/td><td>598<\/td><td>685<\/td><td>362 (+%14,2 Y\u0131ll\u0131k)<\/td><\/tr><tr><td>Net kar (milyar VND)<\/td><td>28,5<\/td><td>35,2<\/td><td>42,7<\/td><td>23,8 (+%15,6 Y\u0131ll\u0131k)<\/td><\/tr><tr><td>EPS (VND)<\/td><td>681<\/td><td>840<\/td><td>1.020<\/td><td>568 (6A\/2024)<\/td><\/tr><tr><td>ROE (%)<\/td><td>6,8<\/td><td>7,9<\/td><td>9,1<\/td><td>9,5 (t\u00fcm y\u0131l i\u00e7in beklenen)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u015eu anda, TAR hisse senedi 14.600 VND'den i\u015flem g\u00f6r\u00fcyor (05 Temmuz 2024), bu da 2024 i\u00e7in \u00f6ng\u00f6r\u00fclen F\/K oran\u0131 13,5x'e kar\u015f\u0131l\u0131k geliyor. HNX'te listelenen in\u015faat ve gayrimenkul sekt\u00f6r\u00fcn\u00fcn ortalama F\/K oran\u0131 12,8x ile kar\u015f\u0131la\u015ft\u0131r\u0131ld\u0131\u011f\u0131nda, TAR'\u0131n de\u011ferlemesi makul bir seviyede olup, \u015firketin b\u00fcy\u00fcme potansiyelini do\u011fru bir \u015fekilde yans\u0131t\u0131yor.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option, Vietnam'da 250.000'den fazla kullan\u0131c\u0131s\u0131 olan lider bir finansal analiz platformu, TAR hisse senedinin y\u0131l\u0131n ilk 6 ay\u0131nda olumlu i\u015f sonu\u00e7lar\u0131 ve in\u015faat sekt\u00f6r\u00fcn\u00fcn olumlu beklentileri sayesinde kademeli bir y\u00fckseli\u015f trendi ile birikim a\u015famas\u0131nda oldu\u011funu de\u011ferlendiriyor. Yat\u0131r\u0131mc\u0131lar, daha do\u011fru bir de\u011ferlendirme i\u00e7in Temmuz ortas\u0131nda a\u00e7\u0131klanacak olan 2024 2. \u00c7eyrek mali raporuna dikkat etmelidir.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Trung An hisse senedinin i\u015f operasyonlar\u0131 ve finansallar\u0131n\u0131n kapsaml\u0131 analizi<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>TAR hisse senedinin potansiyelini do\u011fru bir \u015fekilde de\u011ferlendirmek i\u00e7in i\u015f modelinin ve \u00f6nemli finansal g\u00f6stergelerin detayl\u0131 analizi gereklidir. Tien Son Thanh Hoa Anonim \u015eirketi, riskleri \u00e7e\u015fitlendirmeye ve pazar f\u0131rsatlar\u0131ndan yararlanmaya yard\u0131mc\u0131 olan 4 ana segmentle \u00e7e\u015fitli bir i\u015f modeli i\u015fletmektedir.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>\u0130\u015f segmentine g\u00f6re gelir yap\u0131s\u0131 ve kar marjlar\u0131<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Gelir yap\u0131s\u0131 a\u00e7\u0131s\u0131ndan, Trung An hisse senedi, faaliyet segmentleri aras\u0131nda net bir da\u011f\u0131l\u0131ma sahiptir. 2024'\u00fcn ilk 6 ay\u0131nda, in\u015faat segmenti 232 milyar VND (toplam gelirin %64,1'i), gayrimenkul i\u015fi 92 milyar VND (%25,4), in\u015faat malzemesi \u00fcretimi 26 milyar VND (%7,2) ve ekipman kiralama faaliyetleri 12 milyar VND (%3,3) katk\u0131da bulunmu\u015ftur.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u00d6zellikle, in\u015faat segmenti gelir yap\u0131s\u0131n\u0131n en b\u00fcy\u00fck oran\u0131n\u0131 olu\u015fturmas\u0131na ra\u011fmen, gayrimenkul segmenti y\u00fcksek kar marjlar\u0131 sayesinde br\u00fct kar\u0131n %38,6's\u0131na kadar katk\u0131da bulunmaktad\u0131r (%28,6'ya k\u0131yasla in\u015faat segmenti i\u00e7in %14,2). Gayrimenkul segmentinin oran\u0131n\u0131 2021'de %18'den \u015fu anki %25,4'e kademeli olarak art\u0131rma stratejisi, \u015firketin toplam br\u00fct kar marj\u0131n\u0131 %14,7'den %17,9'a \u00e7\u0131karmas\u0131na yard\u0131mc\u0131 olmu\u015ftur.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>\u0130\u015f Segmenti<\/th><th>Gelir 6A\/2024 (milyar VND)<\/th><th>Oran (%)<\/th><th>Br\u00fct Kar Marj\u0131 (%)<\/th><th>Y\u0131ll\u0131k B\u00fcy\u00fcme (%)<\/th><\/tr><\/thead><tbody><tr><td>\u0130n\u015faat projeleri<\/td><td>232<\/td><td>%64,1<\/td><td>%14,2<\/td><td>+%10,5<\/td><\/tr><tr><td>Gayrimenkul i\u015fi<\/td><td>92<\/td><td>%25,4<\/td><td>%28,6<\/td><td>+%22,7<\/td><\/tr><tr><td>\u0130n\u015faat malzemeleri \u00fcretimi<\/td><td>26<\/td><td>%7,2<\/td><td>%19,3<\/td><td>+%8,3<\/td><\/tr><tr><td>Ekipman kiralama<\/td><td>12<\/td><td>%3,3<\/td><td>%42,7<\/td><td>+%15,4<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Varl\u0131k kalitesi ve sermaye verimlili\u011fi<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Varl\u0131k yap\u0131s\u0131 a\u00e7\u0131s\u0131ndan, 30 Haziran 2024 itibar\u0131yla TAR'\u0131n toplam varl\u0131klar\u0131 895 milyar VND olup, bunun %42'si uzun vadeli varl\u0131klardan olu\u015fmaktad\u0131r, bunlar\u0131n \u00e7o\u011fu yat\u0131r\u0131m gayrimenkulleri (185 milyar VND) ve in\u015faat makineleri ve ekipmanlar\u0131 (122 milyar VND) \u015feklindedir. Varl\u0131k kalitesi, d\u00fc\u015f\u00fck k\u00f6t\u00fc bor\u00e7 oran\u0131 (%1,2) ve 1,45 kat cari \u00f6deme oran\u0131 ile iyi olarak de\u011ferlendirilmektedir.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u015eirketin sermaye verimlili\u011fi y\u0131llar i\u00e7inde a\u00e7\u0131k\u00e7a iyile\u015fmektedir. ROE, 2021'de %6,8'den 2023'te %9,1'e y\u00fckselmi\u015f ve 2024 y\u0131l\u0131n\u0131n tamam\u0131 i\u00e7in %9,5-10'a ula\u015fmas\u0131 beklenmektedir. Ancak, bu g\u00f6sterge hala sekt\u00f6r ortalamas\u0131n\u0131n (%12,5) alt\u0131ndad\u0131r ve bu da \u00f6nemli bir iyile\u015ftirme alan\u0131 oldu\u011funu g\u00f6stermektedir. \u015eirket, nakit d\u00f6ng\u00fcs\u00fcn\u00fc 2024 sonuna kadar 65 g\u00fcnden 52 g\u00fcne k\u0131saltarak i\u015fletme sermayesini optimize etme plan\u0131n\u0131 uygulamaktad\u0131r.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>G\u00f6sterge<\/th><th>TAR (6A\/2024)<\/th><th>Sekt\u00f6r Ortalamas\u0131<\/th><th>\u00d6nceki Y\u0131la G\u00f6re<\/th><th>De\u011ferlendirme<\/th><\/tr><\/thead><tbody><tr><td>F\/K (\u00f6ng\u00f6r\u00fclen 2024)<\/td><td>13,5x<\/td><td>12,8x<\/td><td>14,2x'den d\u00fc\u015ft\u00fc<\/td><td>Makul, sekt\u00f6rden biraz daha y\u00fcksek<\/td><\/tr><tr><td>P\/B<\/td><td>1,2x<\/td><td>1,3x<\/td><td>1,25x'den d\u00fc\u015ft\u00fc<\/td><td>Cazip, sekt\u00f6rden biraz daha d\u00fc\u015f\u00fck<\/td><\/tr><tr><td>ROE (%)<\/td><td>%9,5 (beklenen)<\/td><td>%12,5<\/td><td>%9,1'den artt\u0131<\/td><td>\u0130yile\u015fiyor ama hala d\u00fc\u015f\u00fck<\/td><\/tr><tr><td>Bor\u00e7\/\u00d6zsermaye oran\u0131<\/td><td>0,82x<\/td><td>1,35x<\/td><td>0,85x'den d\u00fc\u015ft\u00fc<\/td><td>\u00c7ok iyi, g\u00fcvenli sermaye yap\u0131s\u0131<\/td><\/tr><tr><td>Net kar marj\u0131 (%)<\/td><td>%6,6<\/td><td>%5,8<\/td><td>%6,2'den artt\u0131<\/td><td>\u0130yi, sekt\u00f6r ortalamas\u0131n\u0131n \u00fczerinde<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option, TAR hisse senedinin i\u00e7sel de\u011ferinin mevcut fiyat\u0131n %15-20 \u00fczerinde, 16.800-17.500 VND\/hisse civar\u0131nda oldu\u011funu g\u00f6steren bir DCF (\u0130skontolu Nakit Ak\u0131\u015f\u0131) finansal analiz arac\u0131 sunmaktad\u0131r. Bu model, y\u0131ll\u0131k %12,5'lik ortalama gelir b\u00fcy\u00fcme tahmini ve 2026 y\u0131l\u0131na kadar net kar marj\u0131n\u0131n %7,2'ye iyile\u015fmesi ile %12,4'l\u00fck bir iskonto oran\u0131na (WACC) dayanmaktad\u0131r.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>TAR hisse senedinin teknik analizi ve anahtar fiyat seviyeleri<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Temel analizin yan\u0131 s\u0131ra, yat\u0131r\u0131mc\u0131lar\u0131n giri\u015f ve \u00e7\u0131k\u0131\u015f noktalar\u0131n\u0131 optimize etmek i\u00e7in teknik fakt\u00f6rleri de iyi bilmesi gerekmektedir. Haftal\u0131k grafikte, TAR hisse senedi 6 ayl\u0131k bir birikim modelini (12\/2023-05\/2024) tamamlam\u0131\u015f ve May\u0131s 2024 sonundan itibaren bir y\u00fckseli\u015f trendine ba\u015flam\u0131\u015ft\u0131r.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ana teknik g\u00f6stergelerin analizi a\u015fa\u011f\u0131daki gibi detayl\u0131 sonu\u00e7lar vermektedir:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>MA20 hatt\u0131 (14.200 VND), 12 Haziran 2024'ten bu yana MA50'nin (13.850 VND) \u00fczerine \u00e7\u0131karak \"alt\u0131n kesi\u015fim\" sinyali olu\u015fturdu - orta vadeli trend i\u00e7in olumlu bir teknik i\u015faret<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>RSI g\u00f6stergesi \u015fu anda 57'de, a\u015f\u0131r\u0131 al\u0131m b\u00f6lgesine (70+) girmeden \u00f6nce hala art\u0131\u015f alan\u0131 var<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>MACD, sinyal hatt\u0131n\u0131n \u00fczerinde pozitif ve geni\u015fleyen histogram ile korunuyor, yukar\u0131 y\u00f6nl\u00fc momentumun g\u00fc\u00e7lendi\u011fini do\u011fruluyor<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>10 seansl\u0131k ortalama i\u015flem hacmi 285.000 hisse\/saat, \u00f6nceki 30 seansl\u0131k ortalamaya g\u00f6re %32 artt\u0131<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Bollinger Bantlar\u0131 geni\u015fliyor ve fiyatlar \u00fcst banda yak\u0131n seyrediyor, bu da y\u00fckseli\u015f trendinin g\u00fc\u00e7l\u00fc bir \u015fekilde ger\u00e7ekle\u015fti\u011fini g\u00f6steriyor<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option, TAR hisse senedi grafi\u011finde son 6 ayda ortaya \u00e7\u0131kan fiyat modellerinin detayl\u0131 analizini sunmaktad\u0131r:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Teknik Model<\/th><th>Ortaya \u00c7\u0131k\u0131\u015f Zaman\u0131<\/th><th>Ortaya \u00c7\u0131k\u0131\u015ftaki Fiyat Seviyesi<\/th><th>Sonraki Hareket<\/th><\/tr><\/thead><tbody><tr><td>\u00c7ift Dip<\/td><td>15-25 May\u0131s 2024<\/td><td>12.600-12.800 VND<\/td><td>4 haftada %15,8 artt\u0131, 14.600 VND'ye ula\u015ft\u0131<\/td><\/tr><tr><td>Bo\u011fa Bayra\u011f\u0131<\/td><td>10-24 Haziran 2024<\/td><td>13.800-14.200 VND<\/td><td>Modeli k\u0131rd\u0131ktan sonra %4,2 artt\u0131, 14.600 VND'ye ula\u015ft\u0131<\/td><\/tr><tr><td>Y\u00fckselen \u00dc\u00e7gen<\/td><td>\u015eu anda olu\u015fuyor (28 Haziran'dan beri)<\/td><td>14.300-14.600 VND<\/td><td>\u00d6n\u00fcm\u00fczdeki 1-2 hafta i\u00e7inde 14.800 VND direncini k\u0131rmas\u0131 bekleniyor<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>TAR hisse senedinin teknik analizi temelinde, a\u015fa\u011f\u0131daki \u00f6nemli fiyat seviyeleri belirlenebilir:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>G\u00fc\u00e7l\u00fc diren\u00e7: 14.800 VND (k\u0131sa vadeli), 15.500 VND (orta vadeli), 16.800 VND (uzun vadeli - son 2 y\u0131l\u0131n en y\u00fckse\u011fi)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u00d6nemli destek: 14.200 VND (MA20), 13.850 VND (MA50), 12.800 VND (g\u00fc\u00e7l\u00fc destek - May\u0131s'ta \u00e7ift dip)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Fiyat hedefleri: 15.500 VND (k\u0131sa vadeli - 1 ay), 16.800 VND (orta vadeli - 3-6 ay), 18.500 VND (uzun vadeli - 2024 sonu\/2025 ba\u015f\u0131)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0130\u015flem hacmi analizi dikkat \u00e7ekici bir noktay\u0131 g\u00f6steriyor: fiyat art\u0131\u015f seanslar\u0131 genellikle b\u00fcy\u00fck hacimle (ortalama 320.000 hisse\/saat) gelirken, d\u00fczeltme seanslar\u0131 daha d\u00fc\u015f\u00fck hacimle (ortalama 215.000 hisse\/saat) ger\u00e7ekle\u015fiyor. Bu, sat\u0131\u015f bask\u0131s\u0131n\u0131n y\u00fcksek olmad\u0131\u011f\u0131n\u0131 ve yat\u0131r\u0131mc\u0131lar\u0131n y\u00fckseli\u015f trendi s\u0131ras\u0131nda aktif olarak al\u0131m yapt\u0131\u011f\u0131n\u0131 g\u00f6steren olumlu bir i\u015farettir.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>TAR hisse senedinin beklentilerini etkileyen makroekonomik fakt\u00f6rler<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>TAR hisse senedinin beklentilerini do\u011fru bir \u015fekilde de\u011ferlendirmek i\u00e7in, \u015firketin i\u015f operasyonlar\u0131n\u0131 do\u011frudan etkileyen makroekonomik fakt\u00f6rleri dikkate almak gereklidir. A\u015fa\u011f\u0131da, en \u00f6nemli 5 makroekonomik fakt\u00f6r\u00fcn detayl\u0131 analizi bulunmaktad\u0131r.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Kamu yat\u0131r\u0131m politikas\u0131 ve in\u015faat sekt\u00f6r\u00fcne etkisi<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Vietnam h\u00fck\u00fcmeti, 2024 y\u0131l\u0131nda toplam 670.000 milyar VND ile kamu yat\u0131r\u0131m harcamalar\u0131n\u0131 h\u0131zland\u0131r\u0131yor, bunun %60'\u0131 ula\u015f\u0131m altyap\u0131s\u0131na odaklan\u0131yor. \u00d6zellikle, 2021-2025 d\u00f6nemi i\u00e7in toplam 146.990 milyar VND yat\u0131r\u0131m ile Kuzey-G\u00fcney otoyolunun 28 bile\u015fen projesi aktif olarak uygulanmaktad\u0131r.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Tien Son Thanh Hoa, Thanh Hoa ve Nghe An \u00fczerinden ge\u00e7en Kuzey-G\u00fcney otoyolu b\u00f6l\u00fcm\u00fc i\u00e7in toplam de\u011feri 1.230 milyar VND olan 3 ihale paketi kazand\u0131. \u015eirket, 2024'\u00fcn ikinci yar\u0131s\u0131nda toplam de\u011feri yakla\u015f\u0131k 800-900 milyar VND olan en az 2 ihale paketi daha kazanmay\u0131 hedefliyor. Bu projeler, \u00f6n\u00fcm\u00fczdeki 2-3 y\u0131l i\u00e7in \u015firketin istikrarl\u0131 gelirini sa\u011flayacakt\u0131r.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Makroekonomik Fakt\u00f6r<\/th><th>Mevcut Geli\u015fmeler<\/th><th>TAR \u00dczerindeki Spesifik Etki<\/th><th>\u00d6n\u00fcm\u00fczdeki 6-12 Ay \u0130\u00e7in Tahmin<\/th><\/tr><\/thead><tbody><tr><td>Kamu Yat\u0131r\u0131m\u0131<\/td><td>2024'te %25 artt\u0131, 6A\/2024'te harcama %32,2'ye ula\u015ft\u0131<\/td><td>\u015eu anda 1.230 milyar VND'lik istikrarl\u0131 i\u015f y\u00fck\u00fcn\u00fc ve ek 800-900 milyar VND kazanma f\u0131rsat\u0131n\u0131 garanti eder<\/td><td>2025'te %15-20 artmaya devam edecek<\/td><\/tr><tr><td>Gayrimenkul Pazar\u0131<\/td><td>2024 2. \u00c7eyrekten itibaren toparlanma, i\u015flem hacmi 1. \u00c7eyre\u011fe g\u00f6re %18,5 artt\u0131<\/td><td>Mevcut 2 gayrimenkul projesinin ilerlemesini h\u0131zland\u0131rma ve 325 milyar VND beklenen gelirle 105 s\u0131ra ev ba\u015flatma<\/td><td>2024 4. \u00c7eyrek-2025 1. \u00c7eyrek'te g\u00fc\u00e7l\u00fc toparlanmaya devam edecek<\/td><\/tr><tr><td>\u0130n\u015faat Malzemesi Fiyatlar\u0131<\/td><td>Stabil, \u00e7elik %2,3 azald\u0131, \u00e7imento hafif\u00e7e %1,5 artt\u0131<\/td><td>\u0130n\u015faat segmentinin br\u00fct kar marj\u0131n\u0131 %14-15 seviyesinde tutmaya yard\u0131mc\u0131 olur<\/td><td>Artan in\u015faat talebi nedeniyle hafif\u00e7e %2-3 artmas\u0131 bekleniyor<\/td><\/tr><tr><td>Faiz Oranlar\u0131<\/td><td>2024 ba\u015f\u0131ndan itibaren %0,5-1 azald\u0131, \u015fu anda %7-8\/y\u0131l<\/td><td>Finansal maliyetleri y\u0131ll\u0131k 3,2 milyar VND azalt\u0131r, net kar marj\u0131n\u0131 iyile\u015ftirir<\/td><td>2024 sonuna kadar %0,25-0,5 daha d\u00fc\u015febilir<\/td><\/tr><tr><td>GSY\u0130H B\u00fcy\u00fcmesi<\/td><td>2024 2. \u00c7eyrekte %6,42'ye ula\u015ft\u0131, t\u00fcm y\u0131l tahmini %6,5-7<\/td><td>Olumlu i\u015f ortam\u0131 yarat\u0131r, konut ve altyap\u0131 talebini art\u0131r\u0131r<\/td><td>2025'te %6,5-7 seviyesinde kalacak<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Olumlu fakt\u00f6rlerin yan\u0131 s\u0131ra, baz\u0131 zorluklar da dikkate al\u0131nmal\u0131d\u0131r. \u0130n\u015faat sekt\u00f6r\u00fcnde rekabet giderek artmakta olup, 65.000'den fazla i\u015fletme faaliyet g\u00f6stermektedir. Hoa Binh \u0130n\u015faat Grubu, Coteccons ve CIENCO4, ula\u015f\u0131m altyap\u0131 projeleri i\u00e7in aktif olarak ihalelere kat\u0131lan b\u00fcy\u00fck rakiplerdir ve TAR i\u00e7in rekabet bask\u0131s\u0131 yaratmaktad\u0131r.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option, her sekt\u00f6re etkileriyle birlikte \u00f6nemli ekonomik g\u00f6stergeler i\u00e7eren ayl\u0131k makroekonomik analiz raporlar\u0131 sunmaktad\u0131r. Platformun son de\u011ferlendirmesine g\u00f6re, \u00f6n\u00fcm\u00fczdeki 6-12 ay i\u00e7in makroekonomik ortam, \u00f6zellikle gayrimenkul pazar\u0131n\u0131n toparlanma ivmesi ve h\u0131zland\u0131r\u0131lm\u0131\u015f kamu yat\u0131r\u0131mlar\u0131 sayesinde TAR hisse senedi i\u00e7in olumlu olarak tahmin edilmektedir.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Farkl\u0131 zaman dilimlerine g\u00f6re TAR hisse senedi ile detayl\u0131 yat\u0131r\u0131m stratejisi<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Temel, teknik ve makroekonomik fakt\u00f6rlerin kapsaml\u0131 analizi temelinde, TAR hisse senedi i\u00e7in \u00fc\u00e7 ana zaman dilimine g\u00f6re spesifik yat\u0131r\u0131m stratejileri geli\u015ftirilebilir: k\u0131sa vadeli, orta vadeli ve uzun vadeli.<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u0131sa vadeli strateji (1-4 hafta): \"Birikim b\u00f6lgesinde al, diren\u00e7 b\u00f6lgesinde sat\" stratejisini 14.200-15.500 VND aral\u0131\u011f\u0131nda uygulay\u0131n. Fiyat 14.200-14.300 VND b\u00f6lgesine d\u00fczeltme yapt\u0131\u011f\u0131nda ve hacim azald\u0131\u011f\u0131nda, RSI g\u00f6stergesi 45-50 b\u00f6lgesine d\u00f6nd\u00fc\u011f\u00fcnde sat\u0131n al\u0131n. RSI a\u015f\u0131r\u0131 al\u0131m b\u00f6lgesine (70+) girdi\u011finde 15.300-15.500 VND'de sat\u0131\u015f hedefi belirleyin. Fiyat b\u00fcy\u00fck hacimle MA20'yi k\u0131rarsa 13.800 VND'de zarar\u0131 durdurun.<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Orta vadeli strateji (1-6 ay): Uzun vadeli bir pozisyon olu\u015fturma amac\u0131yla trend birikim stratejisini uygulay\u0131n. Fiyat \u00f6nemli teknik destek seviyelerine (14.200, 13.850, 13.200 VND) d\u00fczeltme yapt\u0131\u011f\u0131nda 3-4 al\u0131m a\u015famas\u0131nda sermaye tahsis edin. 2024 4. \u00c7eyrek veya 2025 1. \u00c7eyrek'te 16.800 VND (2 y\u0131l\u0131n en y\u00fckse\u011fi) fiyat hedefi. Piyasa olumsuz dalgalanmalara sahipse genel zarar\u0131 durdurma 12.800 VND'de.<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Uzun vadeli strateji (6 aydan fazla): TAR'\u0131 y\u0131ll\u0131k %12-15 b\u00fcy\u00fcme ve %5-7 temett\u00fc beklenen bir \u00e7ekirdek yat\u0131r\u0131m varl\u0131\u011f\u0131 olarak g\u00f6r\u00fcn. 15.000 VND'nin alt\u0131ndaki makul fiyat seviyelerinde kademeli olarak sat\u0131n al\u0131n ve 1-2 y\u0131l boyunca tutun. 2025 sonu i\u00e7in fiyat hedefi, 2025 EPS tahmini 1.380 VND ve hedef F\/K oran\u0131 14x'e dayanarak 18.500-19.200 VND'dir.<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>A\u015fa\u011f\u0131da, her strateji i\u00e7in \u00f6nemli ilkeler ve spesifik uygulama y\u00f6ntemlerinin \u00f6zet tablosu bulunmaktad\u0131r:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>\u0130lke<\/th><th>Spesifik Uygulama Y\u00f6ntemi<\/th><th>Uygulama Zaman\u0131<\/th><\/tr><\/thead><tbody><tr><td>Makul sermaye tahsisi<\/td><td>TAR, portf\u00f6y\u00fcn %5-7'sini ge\u00e7memelidir; uzun vadeli strateji i\u00e7in %60, k\u0131sa-orta vadeli ticaret i\u00e7in %40 tahsis edin<\/td><td>S\u00fcrekli uygulay\u0131n<\/td><\/tr><tr><td>Risk y\u00f6netimi<\/td><td>K\u0131sa vadeli zarar\u0131 durdurma: sat\u0131n alma fiyat\u0131ndan -%5; orta vadeli: -%8; uzun vadeli: -%15 veya ana trend k\u0131r\u0131ld\u0131\u011f\u0131nda<\/td><td>Pozisyon a\u00e7\u0131ld\u0131\u011f\u0131nda hemen ayarlay\u0131n<\/td><\/tr><tr><td>Ak\u0131ll\u0131 DCA stratejisi<\/td><td>Sermayeyi 4 par\u00e7aya b\u00f6l\u00fcn: %30 mevcut fiyatta, %25 %3 d\u00fc\u015ft\u00fc\u011f\u00fcnde, %25 %6 d\u00fc\u015ft\u00fc\u011f\u00fcnde, %20 %9 d\u00fc\u015ft\u00fc\u011f\u00fcnde<\/td><td>Orta-uzun vadeli pozisyon birikimine ba\u015flarken<\/td><\/tr><tr><td>Kar alma disiplini<\/td><td>K\u0131sa vadeli pozisyonun %50'sini +%8'e ula\u015ft\u0131\u011f\u0131nda kapat\u0131n, +%12'ye ula\u015ft\u0131\u011f\u0131nda %100'\u00fcn\u00fc kapat\u0131n; orta vadeli pozisyonun %30'unu +%15'e ula\u015ft\u0131\u011f\u0131nda kapat\u0131n<\/td><td>Fiyat hedefe ula\u015ft\u0131\u011f\u0131nda veya a\u015f\u0131r\u0131 al\u0131m b\u00f6lgesine girdi\u011finde<\/td><\/tr><tr><td>Kataliz\u00f6rleri izleme<\/td><td>Pozisyonu art\u0131r\u0131n: beklentileri a\u015fan \u00e7eyrek raporu, yeni proje ihaleleri kazanma, sekt\u00f6r destek politikalar\u0131 gibi olumlu kataliz\u00f6rler oldu\u011funda<\/td><td>\u0130\u015f sonu\u00e7lar\u0131 a\u00e7\u0131klama takvimine g\u00f6re (2. \u00c7eyrek 15-20 Temmuz, 3. \u00c7eyrek 15-20 Ekim)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option, TAR hisse senedi \u00f6nemli fiyat seviyelerine ula\u015ft\u0131\u011f\u0131nda veya teknik modelleri k\u0131rd\u0131\u011f\u0131nda otomatik uyar\u0131lar ayarlamaya yard\u0131mc\u0131 olan \"TAR Fiyat Uyar\u0131s\u0131\" arac\u0131n\u0131 sunmaktad\u0131r. Ayr\u0131ca, \"Pozisyon Boyutland\u0131rma Hesaplay\u0131c\u0131s\u0131\" arac\u0131, kabul edilebilir risk seviyesine ve \u00f6nceden belirlenmi\u015f zarar\u0131 durdurma noktas\u0131na dayal\u0131 olarak optimal sipari\u015f boyutunu hesaplamaya yard\u0131mc\u0131 olur.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Dikkate de\u011fer bir bak\u0131\u015f a\u00e7\u0131s\u0131, bir\u00e7ok yat\u0131r\u0131mc\u0131 in\u015faat sekt\u00f6r\u00fc hisse senetlerini genellikle k\u0131sa vadeli ticaret f\u0131rsatlar\u0131 olarak g\u00f6rse de, \u00e7e\u015fitli i\u015f modeli, d\u00fc\u015f\u00fck bor\u00e7 oran\u0131 ve cazip temett\u00fc politikas\u0131 ile Trung An hisse senedinin ger\u00e7ekten bir yat\u0131r\u0131m portf\u00f6y\u00fcnde uzun vadeli bir varl\u0131k olabilece\u011fidir. Yat\u0131r\u0131mc\u0131lar, fiyatlar g\u00fc\u00e7l\u00fc dalgaland\u0131\u011f\u0131nda \"sat\u0131n al ve tut\" stratejisini \"d\u00f6nemsel yeniden dengeleme\" ile birle\u015ftirmeyi d\u00fc\u015f\u00fcnebilirler.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>TAR hisse senedinin 3 ana rakiple detayl\u0131 kar\u015f\u0131la\u015ft\u0131rmas\u0131<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>TAR hisse senedinin rekabet\u00e7i konumunu objektif bir \u015fekilde de\u011ferlendirmek i\u00e7in, HNX'te listelenen k\u00fc\u00e7\u00fck ve orta \u00f6l\u00e7ekli in\u015faat \u015firketleri segmentindeki do\u011frudan rakiplerle kar\u015f\u0131la\u015ft\u0131r\u0131lmas\u0131 gereklidir. A\u015fa\u011f\u0131da, 3 ana rakip ile detayl\u0131 bir kar\u015f\u0131la\u015ft\u0131rma tablosu bulunmaktad\u0131r: HU1 (HUD1 Yat\u0131r\u0131m ve \u0130n\u015faat A.\u015e.), C47 (\u0130n\u015faat A.\u015e. 47) ve CII (Ho Chi Minh \u015eehri Altyap\u0131 Yat\u0131r\u0131m A.\u015e.).<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>G\u00f6sterge (2\u00c7\/2024)<\/th><th>TAR<\/th><th>HU1<\/th><th>C47<\/th><th>CII<\/th><\/tr><\/thead><tbody><tr><td>Piyasa de\u011feri (milyar VND)<\/td><td>610<\/td><td>720<\/td><td>580<\/td><td>1.350<\/td><\/tr><tr><td>Gelir 6A\/2024 (milyar VND)<\/td><td>362 (+%14,2 Y\u0131ll\u0131k)<\/td><td>386 (+%8,5 Y\u0131ll\u0131k)<\/td><td>312 (+%6,2 Y\u0131ll\u0131k)<\/td><td>658 (+%12,8 Y\u0131ll\u0131k)<\/td><\/tr><tr><td>Net kar 6A\/2024 (milyar VND)<\/td><td>23,8 (+%15,6 Y\u0131ll\u0131k)<\/td><td>20,2 (+%10,3 Y\u0131ll\u0131k)<\/td><td>16,5 (+%7,8 Y\u0131ll\u0131k)<\/td><td>48,2 (+%14,5 Y\u0131ll\u0131k)<\/td><\/tr><tr><td>Net kar marj\u0131 (%)<\/td><td>%6,6<\/td><td>%5,2<\/td><td>%5,3<\/td><td>%7,3<\/td><\/tr><tr><td>F\/K (\u00f6ng\u00f6r\u00fclen 2024)<\/td><td>13,5x<\/td><td>17,8x<\/td><td>15,2x<\/td><td>14,3x<\/td><\/tr><tr><td>ROE (%)<\/td><td>%9,5 (beklenen)<\/td><td>%7,8<\/td><td>%7,2<\/td><td>%10,5<\/td><\/tr><tr><td>Bor\u00e7\/\u00d6zsermaye oran\u0131<\/td><td>0,82x<\/td><td>1,24x<\/td><td>1,35x<\/td><td>1,08x<\/td><\/tr><tr><td>Gelir yap\u0131s\u0131nda gayrimenkul oran\u0131<\/td><td>%25,4<\/td><td>%15,6<\/td><td>%8,2<\/td><td>%35,7<\/td><\/tr><tr><td>\u0130hale kazanma oran\u0131 6A\/2024<\/td><td>%42,7<\/td><td>%38,5<\/td><td>%32,3<\/td><td>%45,2<\/td><\/tr><tr><td>Nakit temett\u00fc 2023 (beklenen 2024)<\/td><td>%6 (%7)<\/td><td>%5 (%5)<\/td><td>%4 (%4,5)<\/td><td>%3 (%3,5)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Kar\u015f\u0131la\u015ft\u0131rmal\u0131 analiz, TAR hisse senedinin birka\u00e7 \u00f6ne \u00e7\u0131kan rekabet avantaj\u0131na sahip oldu\u011funu g\u00f6stermektedir:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Grup i\u00e7inde en y\u00fcksek gelir ve kar b\u00fcy\u00fcme oran\u0131 (%14,2 ve %15,6), sadece iki kat b\u00fcy\u00fckl\u00fc\u011fe sahip CII'nin ard\u0131ndan<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>En sa\u011fl\u0131kl\u0131 finansal yap\u0131 ile en d\u00fc\u015f\u00fck bor\u00e7\/\u00f6zsermaye oran\u0131 (0,82x), finansal maliyetleri azaltmaya ve piyasa dalgaland\u0131\u011f\u0131nda dayan\u0131kl\u0131l\u0131\u011f\u0131 art\u0131rmaya yard\u0131mc\u0131 olur<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0130n\u015faat ve gayrimenkul segmentleri aras\u0131nda iyi bir denge (gayrimenkul oran\u0131 %25,4), HU1 ve C47'den daha y\u00fcksek, makul kar marjlar\u0131n\u0131 (%6,6) sa\u011flamaya yard\u0131mc\u0131 olur<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Grup ortalamas\u0131na (15,1x) k\u0131yasla en cazip de\u011ferleme (F\/K 13,5x), en y\u00fcksek temett\u00fc oran\u0131na (%6-7) sahipken<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kuzey Orta b\u00f6lgesinde ula\u015f\u0131m in\u015faat\u0131 alan\u0131nda itibar ve deneyim sayesinde y\u00fcksek ihale kazanma oran\u0131 (%42,7)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option, makul de\u011ferleme ve iyi temel g\u00f6stergelerle, TAR hisse senedinin \u015fu anda k\u00fc\u00e7\u00fck ve orta \u00f6l\u00e7ekli in\u015faat i\u015f grubu i\u00e7inde en cazip yat\u0131r\u0131m se\u00e7ene\u011fi oldu\u011funu de\u011ferlendirmektedir. Piyasa de\u011feri ve geliri CII'den daha d\u00fc\u015f\u00fck olmas\u0131na ra\u011fmen, TAR daha y\u00fcksek b\u00fcy\u00fcme potansiyeline ve daha cazip bir de\u011ferlemeye sahiptir, bu da \u00f6n\u00fcm\u00fczdeki 6-12 ay i\u00e7inde %15-20'lik fiyat art\u0131\u015flar\u0131 i\u00e7in alan yaratmaktad\u0131r.<\/p><\/div>[cta_button text=\"\"]<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Sonu\u00e7: TAR hisse senedinin yat\u0131r\u0131m beklentileri ve fiyat hedefleri<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Temel, teknik, makroekonomik ve sekt\u00f6r kar\u015f\u0131la\u015ft\u0131rmalar\u0131n\u0131n kapsaml\u0131 analizi sonras\u0131nda, TAR hisse senedi de\u011ferlendirmesi hakk\u0131nda spesifik sonu\u00e7lar ve beklentiler \u00e7\u0131kar\u0131labilir:<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>TAR hisse senedi, \u00e7e\u015fitli i\u015f modeli, g\u00fc\u00e7l\u00fc finansal yap\u0131s\u0131 (bor\u00e7\/\u00f6zsermaye oran\u0131 sadece 0,82x) ve in\u015faat ile gayrimenkul aras\u0131nda denge kurmay\u0131 hedefleyen net geli\u015fim stratejisi ile avantajl\u0131 bir konumdad\u0131r. 2024'\u00fcn ilk 6 ay\u0131 i\u00e7in i\u015f sonu\u00e7lar\u0131, 362 milyar VND'ye ula\u015fan gelir (+%14,2 Y\u0131ll\u0131k) ve 23,8 milyar VND'ye ula\u015fan net kar (+%15,6 Y\u0131ll\u0131k) ile olumlu olup, g\u00fc\u00e7l\u00fc bir b\u00fcy\u00fcme ivmesi g\u00f6stermektedir.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>De\u011ferleme a\u00e7\u0131s\u0131ndan, 2024 i\u00e7in \u00f6ng\u00f6r\u00fclen F\/K oran\u0131 13,5x ve P\/B oran\u0131 1,2x ile TAR hisse senedi, b\u00fcy\u00fcme potansiyeline ve sekt\u00f6r ortalamas\u0131na k\u0131yasla cazip bir seviyede i\u015flem g\u00f6rmektedir. DCF modeli, hisse senedinin adil de\u011ferini 16.800-17.500 VND olarak g\u00f6stermekte olup, mevcut fiyat olan 14.600 VND'den %15-20 daha y\u00fcksektir.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u00d6n\u00fcm\u00fczdeki 12-18 ayda b\u00fcy\u00fcmeyi destekleyen fakt\u00f6rler \u015funlard\u0131r:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>2024 2. \u00c7eyrekten itibaren gayrimenkul pazar\u0131n\u0131n toparlanma ivmesi, TAR'\u0131n gayrimenkul i\u015f segmentini art\u0131racak ve 2025 y\u0131l\u0131na kadar gelirin %30'unu ve kar\u0131n %45'ini katk\u0131da bulunmas\u0131 bekleniyor<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kamu yat\u0131r\u0131mlar\u0131, Kuzey-G\u00fcney otoyolunun 28 bile\u015fen projesi ile h\u0131zland\u0131r\u0131lmaya devam ediyor ve TAR i\u00e7in Kuzey Orta b\u00f6lgesinde \u00f6nemli ihale f\u0131rsatlar\u0131 yarat\u0131yor<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Gelir kaynaklar\u0131n\u0131 \u00e7e\u015fitlendirme stratejisi ile ekipman kiralama segmentinin (y\u00fcksek kar marj\u0131 %42,7) oran\u0131n\u0131 kademeli olarak art\u0131rma, 2025 y\u0131l\u0131na kadar gelirin %5'ini katk\u0131da bulunmas\u0131 bekleniyor<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Faiz oranlar\u0131ndaki d\u00fc\u015f\u00fc\u015f e\u011filimi, finansal maliyetleri azaltacak ve gayrimenkul talebini te\u015fvik edecek, TAR'\u0131n her iki ana i\u015f segmentine fayda sa\u011flayacak<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ancak, yat\u0131r\u0131mc\u0131lar baz\u0131 riskleri de dikkate almal\u0131d\u0131r:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u00fcy\u00fck rakipler olan Hoa Binh, Coteccons gibi ula\u015f\u0131m in\u015faat projeleri i\u00e7in ihalelerde artan rekabet<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Y\u00fcksek in\u015faat talebi nedeniyle 2024'\u00fcn ikinci yar\u0131s\u0131nda in\u015faat malzemesi fiyatlar\u0131n\u0131n artmas\u0131, kar marjlar\u0131 \u00fczerinde bask\u0131 olu\u015fturabilir<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>TAR gibi orta sermayeli hisse senetleri i\u00e7in piyasa g\u00fc\u00e7l\u00fc dalgaland\u0131\u011f\u0131nda likidite riski<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kamu yat\u0131r\u0131m harcamalar\u0131n\u0131n yava\u015f ilerlemesi (ilk 6 ayda %32,2) devam eden projelerin nakit ak\u0131\u015f\u0131n\u0131 etkileyebilir<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Kapsaml\u0131 analiz temelinde, Pocket Option TAR hisse senedi i\u00e7in a\u015fa\u011f\u0131daki fiyat hedef tahminini sa\u011flamaktad\u0131r:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u0131sa vadeli hedef (1-3 ay): 15.500 VND (mevcut fiyattan +%6,2)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Orta vadeli hedef (3-6 ay): 16.800 VND (mevcut fiyattan +%15,1)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Uzun vadeli hedef (6-12 ay): 18.500 VND (mevcut fiyattan +%26,7)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Optimal yat\u0131r\u0131m stratejisi, pozisyonun %60-70'ini \"sat\u0131n al ve tut\" ile birle\u015ftirerek, 13.800-14.600 VND fiyat aral\u0131\u011f\u0131nda birikime odaklanmak, kalan %30-40'\u0131n\u0131 ise genel performans\u0131 art\u0131rmak i\u00e7in teknik trend ticaret stratejisi uygulamakt\u0131r. Fiyat \u00f6nemli teknik destek seviyelerine d\u00fczeltme yapt\u0131\u011f\u0131nda ve i\u015flem hacmi d\u00fc\u015f\u00fck oldu\u011funda iyi al\u0131m noktalar\u0131na \u00f6zel dikkat g\u00f6sterin.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>G\u00fc\u00e7l\u00fc finansal pozisyonu, net i\u015f stratejisi ve olumlu sekt\u00f6r beklentileri ile TAR hisse senedi, yat\u0131r\u0131m portf\u00f6ylerinde s\u00fcrd\u00fcr\u00fclebilir b\u00fcy\u00fcme f\u0131rsatlar\u0131 arayan orta ve uzun vadeli yat\u0131r\u0131mc\u0131lar i\u00e7in cazip bir yat\u0131r\u0131m se\u00e7ene\u011fi olmay\u0131 hak ediyor.<\/p><\/div>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>TAR hisse senedi ve mevcut piyasa pozisyonunun genel g\u00f6r\u00fcn\u00fcm\u00fc<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>TAR hisse senedi &#8211; Tien Son Thanh Hoa Anonim \u015eirketi&#8217;nin menkul k\u0131ymetler kodu &#8211; 2010 y\u0131l\u0131ndan bu yana HNX borsas\u0131nda i\u015flem g\u00f6rmekte olup, mevcut piyasa de\u011feri 610 milyar VND (24,4 milyon USD&#8217;ye e\u015fde\u011fer) seviyesindedir. 2024&#8217;\u00fcn ilk 6 ay\u0131nda TAR hisse senedi %8,7 artarken, VN-Index sadece %3,2 artt\u0131 ve genel piyasaya k\u0131yasla nispeten \u00fcst\u00fcn bir g\u00fc\u00e7 g\u00f6sterdi.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>418,5 milyar VND&#8217;lik bir sermaye ile Tien Son Thanh Hoa Anonim \u015eirketi, \u015fu anda Kuzey Orta b\u00f6lgesinde in\u015faat sekt\u00f6r\u00fcnde lider bir kurulu\u015ftur. \u015eirket, son 5 y\u0131lda 3&#8217;\u00fc Kuzey-G\u00fcney otoyolu projesine ait olan ve toplam de\u011feri 1.200 milyar VND&#8217;yi a\u015fan 50&#8217;den fazla b\u00fcy\u00fck ve k\u00fc\u00e7\u00fck projeyi ba\u015far\u0131yla tamamlam\u0131\u015ft\u0131r.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>TAR hisse senedini mevcut ba\u011flamda de\u011ferlendirmek, Vietnam&#8217;\u0131n in\u015faat sekt\u00f6r\u00fcn\u00fcn durumunu dikkate almay\u0131 gerektirir. \u0130n\u015faat Bakanl\u0131\u011f\u0131&#8217;n\u0131n en son verilerine g\u00f6re, in\u015faat sekt\u00f6r\u00fc 2023 y\u0131l\u0131nda %8,5&#8217;lik bir b\u00fcy\u00fcme oran\u0131 kaydetti ve kamu yat\u0131r\u0131mlar\u0131n\u0131n h\u0131zland\u0131r\u0131lmas\u0131 sayesinde 2024 y\u0131l\u0131nda %8,8-9,2&#8217;ye ula\u015fmas\u0131 bekleniyor. 2024 i\u00e7in toplam kamu yat\u0131r\u0131m sermayesi 670.000 milyar VND&#8217;ye ula\u015farak in\u015faat sekt\u00f6r\u00fc i\u015fletmeleri i\u00e7in b\u00fcy\u00fck bir itici g\u00fc\u00e7 yarat\u0131yor.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Finansal G\u00f6stergeler<\/th>\n<th>2021<\/th>\n<th>2022<\/th>\n<th>2023<\/th>\n<th>6A\/2024<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Gelir (milyar VND)<\/td>\n<td>512<\/td>\n<td>598<\/td>\n<td>685<\/td>\n<td>362 (+%14,2 Y\u0131ll\u0131k)<\/td>\n<\/tr>\n<tr>\n<td>Net kar (milyar VND)<\/td>\n<td>28,5<\/td>\n<td>35,2<\/td>\n<td>42,7<\/td>\n<td>23,8 (+%15,6 Y\u0131ll\u0131k)<\/td>\n<\/tr>\n<tr>\n<td>EPS (VND)<\/td>\n<td>681<\/td>\n<td>840<\/td>\n<td>1.020<\/td>\n<td>568 (6A\/2024)<\/td>\n<\/tr>\n<tr>\n<td>ROE (%)<\/td>\n<td>6,8<\/td>\n<td>7,9<\/td>\n<td>9,1<\/td>\n<td>9,5 (t\u00fcm y\u0131l i\u00e7in beklenen)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u015eu anda, TAR hisse senedi 14.600 VND&#8217;den i\u015flem g\u00f6r\u00fcyor (05 Temmuz 2024), bu da 2024 i\u00e7in \u00f6ng\u00f6r\u00fclen F\/K oran\u0131 13,5x&#8217;e kar\u015f\u0131l\u0131k geliyor. HNX&#8217;te listelenen in\u015faat ve gayrimenkul sekt\u00f6r\u00fcn\u00fcn ortalama F\/K oran\u0131 12,8x ile kar\u015f\u0131la\u015ft\u0131r\u0131ld\u0131\u011f\u0131nda, TAR&#8217;\u0131n de\u011ferlemesi makul bir seviyede olup, \u015firketin b\u00fcy\u00fcme potansiyelini do\u011fru bir \u015fekilde yans\u0131t\u0131yor.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option, Vietnam&#8217;da 250.000&#8217;den fazla kullan\u0131c\u0131s\u0131 olan lider bir finansal analiz platformu, TAR hisse senedinin y\u0131l\u0131n ilk 6 ay\u0131nda olumlu i\u015f sonu\u00e7lar\u0131 ve in\u015faat sekt\u00f6r\u00fcn\u00fcn olumlu beklentileri sayesinde kademeli bir y\u00fckseli\u015f trendi ile birikim a\u015famas\u0131nda oldu\u011funu de\u011ferlendiriyor. Yat\u0131r\u0131mc\u0131lar, daha do\u011fru bir de\u011ferlendirme i\u00e7in Temmuz ortas\u0131nda a\u00e7\u0131klanacak olan 2024 2. \u00c7eyrek mali raporuna dikkat etmelidir.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Trung An hisse senedinin i\u015f operasyonlar\u0131 ve finansallar\u0131n\u0131n kapsaml\u0131 analizi<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>TAR hisse senedinin potansiyelini do\u011fru bir \u015fekilde de\u011ferlendirmek i\u00e7in i\u015f modelinin ve \u00f6nemli finansal g\u00f6stergelerin detayl\u0131 analizi gereklidir. Tien Son Thanh Hoa Anonim \u015eirketi, riskleri \u00e7e\u015fitlendirmeye ve pazar f\u0131rsatlar\u0131ndan yararlanmaya yard\u0131mc\u0131 olan 4 ana segmentle \u00e7e\u015fitli bir i\u015f modeli i\u015fletmektedir.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>\u0130\u015f segmentine g\u00f6re gelir yap\u0131s\u0131 ve kar marjlar\u0131<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Gelir yap\u0131s\u0131 a\u00e7\u0131s\u0131ndan, Trung An hisse senedi, faaliyet segmentleri aras\u0131nda net bir da\u011f\u0131l\u0131ma sahiptir. 2024&#8217;\u00fcn ilk 6 ay\u0131nda, in\u015faat segmenti 232 milyar VND (toplam gelirin %64,1&#8217;i), gayrimenkul i\u015fi 92 milyar VND (%25,4), in\u015faat malzemesi \u00fcretimi 26 milyar VND (%7,2) ve ekipman kiralama faaliyetleri 12 milyar VND (%3,3) katk\u0131da bulunmu\u015ftur.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u00d6zellikle, in\u015faat segmenti gelir yap\u0131s\u0131n\u0131n en b\u00fcy\u00fck oran\u0131n\u0131 olu\u015fturmas\u0131na ra\u011fmen, gayrimenkul segmenti y\u00fcksek kar marjlar\u0131 sayesinde br\u00fct kar\u0131n %38,6&#8217;s\u0131na kadar katk\u0131da bulunmaktad\u0131r (%28,6&#8217;ya k\u0131yasla in\u015faat segmenti i\u00e7in %14,2). Gayrimenkul segmentinin oran\u0131n\u0131 2021&#8217;de %18&#8217;den \u015fu anki %25,4&#8217;e kademeli olarak art\u0131rma stratejisi, \u015firketin toplam br\u00fct kar marj\u0131n\u0131 %14,7&#8217;den %17,9&#8217;a \u00e7\u0131karmas\u0131na yard\u0131mc\u0131 olmu\u015ftur.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>\u0130\u015f Segmenti<\/th>\n<th>Gelir 6A\/2024 (milyar VND)<\/th>\n<th>Oran (%)<\/th>\n<th>Br\u00fct Kar Marj\u0131 (%)<\/th>\n<th>Y\u0131ll\u0131k B\u00fcy\u00fcme (%)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u0130n\u015faat projeleri<\/td>\n<td>232<\/td>\n<td>%64,1<\/td>\n<td>%14,2<\/td>\n<td>+%10,5<\/td>\n<\/tr>\n<tr>\n<td>Gayrimenkul i\u015fi<\/td>\n<td>92<\/td>\n<td>%25,4<\/td>\n<td>%28,6<\/td>\n<td>+%22,7<\/td>\n<\/tr>\n<tr>\n<td>\u0130n\u015faat malzemeleri \u00fcretimi<\/td>\n<td>26<\/td>\n<td>%7,2<\/td>\n<td>%19,3<\/td>\n<td>+%8,3<\/td>\n<\/tr>\n<tr>\n<td>Ekipman kiralama<\/td>\n<td>12<\/td>\n<td>%3,3<\/td>\n<td>%42,7<\/td>\n<td>+%15,4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Varl\u0131k kalitesi ve sermaye verimlili\u011fi<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Varl\u0131k yap\u0131s\u0131 a\u00e7\u0131s\u0131ndan, 30 Haziran 2024 itibar\u0131yla TAR&#8217;\u0131n toplam varl\u0131klar\u0131 895 milyar VND olup, bunun %42&#8217;si uzun vadeli varl\u0131klardan olu\u015fmaktad\u0131r, bunlar\u0131n \u00e7o\u011fu yat\u0131r\u0131m gayrimenkulleri (185 milyar VND) ve in\u015faat makineleri ve ekipmanlar\u0131 (122 milyar VND) \u015feklindedir. Varl\u0131k kalitesi, d\u00fc\u015f\u00fck k\u00f6t\u00fc bor\u00e7 oran\u0131 (%1,2) ve 1,45 kat cari \u00f6deme oran\u0131 ile iyi olarak de\u011ferlendirilmektedir.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u015eirketin sermaye verimlili\u011fi y\u0131llar i\u00e7inde a\u00e7\u0131k\u00e7a iyile\u015fmektedir. ROE, 2021&#8217;de %6,8&#8217;den 2023&#8217;te %9,1&#8217;e y\u00fckselmi\u015f ve 2024 y\u0131l\u0131n\u0131n tamam\u0131 i\u00e7in %9,5-10&#8217;a ula\u015fmas\u0131 beklenmektedir. Ancak, bu g\u00f6sterge hala sekt\u00f6r ortalamas\u0131n\u0131n (%12,5) alt\u0131ndad\u0131r ve bu da \u00f6nemli bir iyile\u015ftirme alan\u0131 oldu\u011funu g\u00f6stermektedir. \u015eirket, nakit d\u00f6ng\u00fcs\u00fcn\u00fc 2024 sonuna kadar 65 g\u00fcnden 52 g\u00fcne k\u0131saltarak i\u015fletme sermayesini optimize etme plan\u0131n\u0131 uygulamaktad\u0131r.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>G\u00f6sterge<\/th>\n<th>TAR (6A\/2024)<\/th>\n<th>Sekt\u00f6r Ortalamas\u0131<\/th>\n<th>\u00d6nceki Y\u0131la G\u00f6re<\/th>\n<th>De\u011ferlendirme<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>F\/K (\u00f6ng\u00f6r\u00fclen 2024)<\/td>\n<td>13,5x<\/td>\n<td>12,8x<\/td>\n<td>14,2x&#8217;den d\u00fc\u015ft\u00fc<\/td>\n<td>Makul, sekt\u00f6rden biraz daha y\u00fcksek<\/td>\n<\/tr>\n<tr>\n<td>P\/B<\/td>\n<td>1,2x<\/td>\n<td>1,3x<\/td>\n<td>1,25x&#8217;den d\u00fc\u015ft\u00fc<\/td>\n<td>Cazip, sekt\u00f6rden biraz daha d\u00fc\u015f\u00fck<\/td>\n<\/tr>\n<tr>\n<td>ROE (%)<\/td>\n<td>%9,5 (beklenen)<\/td>\n<td>%12,5<\/td>\n<td>%9,1&#8217;den artt\u0131<\/td>\n<td>\u0130yile\u015fiyor ama hala d\u00fc\u015f\u00fck<\/td>\n<\/tr>\n<tr>\n<td>Bor\u00e7\/\u00d6zsermaye oran\u0131<\/td>\n<td>0,82x<\/td>\n<td>1,35x<\/td>\n<td>0,85x&#8217;den d\u00fc\u015ft\u00fc<\/td>\n<td>\u00c7ok iyi, g\u00fcvenli sermaye yap\u0131s\u0131<\/td>\n<\/tr>\n<tr>\n<td>Net kar marj\u0131 (%)<\/td>\n<td>%6,6<\/td>\n<td>%5,8<\/td>\n<td>%6,2&#8217;den artt\u0131<\/td>\n<td>\u0130yi, sekt\u00f6r ortalamas\u0131n\u0131n \u00fczerinde<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option, TAR hisse senedinin i\u00e7sel de\u011ferinin mevcut fiyat\u0131n %15-20 \u00fczerinde, 16.800-17.500 VND\/hisse civar\u0131nda oldu\u011funu g\u00f6steren bir DCF (\u0130skontolu Nakit Ak\u0131\u015f\u0131) finansal analiz arac\u0131 sunmaktad\u0131r. Bu model, y\u0131ll\u0131k %12,5&#8217;lik ortalama gelir b\u00fcy\u00fcme tahmini ve 2026 y\u0131l\u0131na kadar net kar marj\u0131n\u0131n %7,2&#8217;ye iyile\u015fmesi ile %12,4&#8217;l\u00fck bir iskonto oran\u0131na (WACC) dayanmaktad\u0131r.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>TAR hisse senedinin teknik analizi ve anahtar fiyat seviyeleri<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Temel analizin yan\u0131 s\u0131ra, yat\u0131r\u0131mc\u0131lar\u0131n giri\u015f ve \u00e7\u0131k\u0131\u015f noktalar\u0131n\u0131 optimize etmek i\u00e7in teknik fakt\u00f6rleri de iyi bilmesi gerekmektedir. Haftal\u0131k grafikte, TAR hisse senedi 6 ayl\u0131k bir birikim modelini (12\/2023-05\/2024) tamamlam\u0131\u015f ve May\u0131s 2024 sonundan itibaren bir y\u00fckseli\u015f trendine ba\u015flam\u0131\u015ft\u0131r.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ana teknik g\u00f6stergelerin analizi a\u015fa\u011f\u0131daki gibi detayl\u0131 sonu\u00e7lar vermektedir:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>MA20 hatt\u0131 (14.200 VND), 12 Haziran 2024&#8217;ten bu yana MA50&#8217;nin (13.850 VND) \u00fczerine \u00e7\u0131karak &#8220;alt\u0131n kesi\u015fim&#8221; sinyali olu\u015fturdu &#8211; orta vadeli trend i\u00e7in olumlu bir teknik i\u015faret<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>RSI g\u00f6stergesi \u015fu anda 57&#8217;de, a\u015f\u0131r\u0131 al\u0131m b\u00f6lgesine (70+) girmeden \u00f6nce hala art\u0131\u015f alan\u0131 var<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>MACD, sinyal hatt\u0131n\u0131n \u00fczerinde pozitif ve geni\u015fleyen histogram ile korunuyor, yukar\u0131 y\u00f6nl\u00fc momentumun g\u00fc\u00e7lendi\u011fini do\u011fruluyor<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>10 seansl\u0131k ortalama i\u015flem hacmi 285.000 hisse\/saat, \u00f6nceki 30 seansl\u0131k ortalamaya g\u00f6re %32 artt\u0131<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Bollinger Bantlar\u0131 geni\u015fliyor ve fiyatlar \u00fcst banda yak\u0131n seyrediyor, bu da y\u00fckseli\u015f trendinin g\u00fc\u00e7l\u00fc bir \u015fekilde ger\u00e7ekle\u015fti\u011fini g\u00f6steriyor<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option, TAR hisse senedi grafi\u011finde son 6 ayda ortaya \u00e7\u0131kan fiyat modellerinin detayl\u0131 analizini sunmaktad\u0131r:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Teknik Model<\/th>\n<th>Ortaya \u00c7\u0131k\u0131\u015f Zaman\u0131<\/th>\n<th>Ortaya \u00c7\u0131k\u0131\u015ftaki Fiyat Seviyesi<\/th>\n<th>Sonraki Hareket<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u00c7ift Dip<\/td>\n<td>15-25 May\u0131s 2024<\/td>\n<td>12.600-12.800 VND<\/td>\n<td>4 haftada %15,8 artt\u0131, 14.600 VND&#8217;ye ula\u015ft\u0131<\/td>\n<\/tr>\n<tr>\n<td>Bo\u011fa Bayra\u011f\u0131<\/td>\n<td>10-24 Haziran 2024<\/td>\n<td>13.800-14.200 VND<\/td>\n<td>Modeli k\u0131rd\u0131ktan sonra %4,2 artt\u0131, 14.600 VND&#8217;ye ula\u015ft\u0131<\/td>\n<\/tr>\n<tr>\n<td>Y\u00fckselen \u00dc\u00e7gen<\/td>\n<td>\u015eu anda olu\u015fuyor (28 Haziran&#8217;dan beri)<\/td>\n<td>14.300-14.600 VND<\/td>\n<td>\u00d6n\u00fcm\u00fczdeki 1-2 hafta i\u00e7inde 14.800 VND direncini k\u0131rmas\u0131 bekleniyor<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>TAR hisse senedinin teknik analizi temelinde, a\u015fa\u011f\u0131daki \u00f6nemli fiyat seviyeleri belirlenebilir:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>G\u00fc\u00e7l\u00fc diren\u00e7: 14.800 VND (k\u0131sa vadeli), 15.500 VND (orta vadeli), 16.800 VND (uzun vadeli &#8211; son 2 y\u0131l\u0131n en y\u00fckse\u011fi)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u00d6nemli destek: 14.200 VND (MA20), 13.850 VND (MA50), 12.800 VND (g\u00fc\u00e7l\u00fc destek &#8211; May\u0131s&#8217;ta \u00e7ift dip)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Fiyat hedefleri: 15.500 VND (k\u0131sa vadeli &#8211; 1 ay), 16.800 VND (orta vadeli &#8211; 3-6 ay), 18.500 VND (uzun vadeli &#8211; 2024 sonu\/2025 ba\u015f\u0131)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0130\u015flem hacmi analizi dikkat \u00e7ekici bir noktay\u0131 g\u00f6steriyor: fiyat art\u0131\u015f seanslar\u0131 genellikle b\u00fcy\u00fck hacimle (ortalama 320.000 hisse\/saat) gelirken, d\u00fczeltme seanslar\u0131 daha d\u00fc\u015f\u00fck hacimle (ortalama 215.000 hisse\/saat) ger\u00e7ekle\u015fiyor. Bu, sat\u0131\u015f bask\u0131s\u0131n\u0131n y\u00fcksek olmad\u0131\u011f\u0131n\u0131 ve yat\u0131r\u0131mc\u0131lar\u0131n y\u00fckseli\u015f trendi s\u0131ras\u0131nda aktif olarak al\u0131m yapt\u0131\u011f\u0131n\u0131 g\u00f6steren olumlu bir i\u015farettir.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>TAR hisse senedinin beklentilerini etkileyen makroekonomik fakt\u00f6rler<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>TAR hisse senedinin beklentilerini do\u011fru bir \u015fekilde de\u011ferlendirmek i\u00e7in, \u015firketin i\u015f operasyonlar\u0131n\u0131 do\u011frudan etkileyen makroekonomik fakt\u00f6rleri dikkate almak gereklidir. A\u015fa\u011f\u0131da, en \u00f6nemli 5 makroekonomik fakt\u00f6r\u00fcn detayl\u0131 analizi bulunmaktad\u0131r.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Kamu yat\u0131r\u0131m politikas\u0131 ve in\u015faat sekt\u00f6r\u00fcne etkisi<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Vietnam h\u00fck\u00fcmeti, 2024 y\u0131l\u0131nda toplam 670.000 milyar VND ile kamu yat\u0131r\u0131m harcamalar\u0131n\u0131 h\u0131zland\u0131r\u0131yor, bunun %60&#8217;\u0131 ula\u015f\u0131m altyap\u0131s\u0131na odaklan\u0131yor. \u00d6zellikle, 2021-2025 d\u00f6nemi i\u00e7in toplam 146.990 milyar VND yat\u0131r\u0131m ile Kuzey-G\u00fcney otoyolunun 28 bile\u015fen projesi aktif olarak uygulanmaktad\u0131r.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Tien Son Thanh Hoa, Thanh Hoa ve Nghe An \u00fczerinden ge\u00e7en Kuzey-G\u00fcney otoyolu b\u00f6l\u00fcm\u00fc i\u00e7in toplam de\u011feri 1.230 milyar VND olan 3 ihale paketi kazand\u0131. \u015eirket, 2024&#8217;\u00fcn ikinci yar\u0131s\u0131nda toplam de\u011feri yakla\u015f\u0131k 800-900 milyar VND olan en az 2 ihale paketi daha kazanmay\u0131 hedefliyor. Bu projeler, \u00f6n\u00fcm\u00fczdeki 2-3 y\u0131l i\u00e7in \u015firketin istikrarl\u0131 gelirini sa\u011flayacakt\u0131r.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Makroekonomik Fakt\u00f6r<\/th>\n<th>Mevcut Geli\u015fmeler<\/th>\n<th>TAR \u00dczerindeki Spesifik Etki<\/th>\n<th>\u00d6n\u00fcm\u00fczdeki 6-12 Ay \u0130\u00e7in Tahmin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Kamu Yat\u0131r\u0131m\u0131<\/td>\n<td>2024&#8217;te %25 artt\u0131, 6A\/2024&#8217;te harcama %32,2&#8217;ye ula\u015ft\u0131<\/td>\n<td>\u015eu anda 1.230 milyar VND&#8217;lik istikrarl\u0131 i\u015f y\u00fck\u00fcn\u00fc ve ek 800-900 milyar VND kazanma f\u0131rsat\u0131n\u0131 garanti eder<\/td>\n<td>2025&#8217;te %15-20 artmaya devam edecek<\/td>\n<\/tr>\n<tr>\n<td>Gayrimenkul Pazar\u0131<\/td>\n<td>2024 2. \u00c7eyrekten itibaren toparlanma, i\u015flem hacmi 1. \u00c7eyre\u011fe g\u00f6re %18,5 artt\u0131<\/td>\n<td>Mevcut 2 gayrimenkul projesinin ilerlemesini h\u0131zland\u0131rma ve 325 milyar VND beklenen gelirle 105 s\u0131ra ev ba\u015flatma<\/td>\n<td>2024 4. \u00c7eyrek-2025 1. \u00c7eyrek&#8217;te g\u00fc\u00e7l\u00fc toparlanmaya devam edecek<\/td>\n<\/tr>\n<tr>\n<td>\u0130n\u015faat Malzemesi Fiyatlar\u0131<\/td>\n<td>Stabil, \u00e7elik %2,3 azald\u0131, \u00e7imento hafif\u00e7e %1,5 artt\u0131<\/td>\n<td>\u0130n\u015faat segmentinin br\u00fct kar marj\u0131n\u0131 %14-15 seviyesinde tutmaya yard\u0131mc\u0131 olur<\/td>\n<td>Artan in\u015faat talebi nedeniyle hafif\u00e7e %2-3 artmas\u0131 bekleniyor<\/td>\n<\/tr>\n<tr>\n<td>Faiz Oranlar\u0131<\/td>\n<td>2024 ba\u015f\u0131ndan itibaren %0,5-1 azald\u0131, \u015fu anda %7-8\/y\u0131l<\/td>\n<td>Finansal maliyetleri y\u0131ll\u0131k 3,2 milyar VND azalt\u0131r, net kar marj\u0131n\u0131 iyile\u015ftirir<\/td>\n<td>2024 sonuna kadar %0,25-0,5 daha d\u00fc\u015febilir<\/td>\n<\/tr>\n<tr>\n<td>GSY\u0130H B\u00fcy\u00fcmesi<\/td>\n<td>2024 2. \u00c7eyrekte %6,42&#8217;ye ula\u015ft\u0131, t\u00fcm y\u0131l tahmini %6,5-7<\/td>\n<td>Olumlu i\u015f ortam\u0131 yarat\u0131r, konut ve altyap\u0131 talebini art\u0131r\u0131r<\/td>\n<td>2025&#8217;te %6,5-7 seviyesinde kalacak<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Olumlu fakt\u00f6rlerin yan\u0131 s\u0131ra, baz\u0131 zorluklar da dikkate al\u0131nmal\u0131d\u0131r. \u0130n\u015faat sekt\u00f6r\u00fcnde rekabet giderek artmakta olup, 65.000&#8217;den fazla i\u015fletme faaliyet g\u00f6stermektedir. Hoa Binh \u0130n\u015faat Grubu, Coteccons ve CIENCO4, ula\u015f\u0131m altyap\u0131 projeleri i\u00e7in aktif olarak ihalelere kat\u0131lan b\u00fcy\u00fck rakiplerdir ve TAR i\u00e7in rekabet bask\u0131s\u0131 yaratmaktad\u0131r.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option, her sekt\u00f6re etkileriyle birlikte \u00f6nemli ekonomik g\u00f6stergeler i\u00e7eren ayl\u0131k makroekonomik analiz raporlar\u0131 sunmaktad\u0131r. Platformun son de\u011ferlendirmesine g\u00f6re, \u00f6n\u00fcm\u00fczdeki 6-12 ay i\u00e7in makroekonomik ortam, \u00f6zellikle gayrimenkul pazar\u0131n\u0131n toparlanma ivmesi ve h\u0131zland\u0131r\u0131lm\u0131\u015f kamu yat\u0131r\u0131mlar\u0131 sayesinde TAR hisse senedi i\u00e7in olumlu olarak tahmin edilmektedir.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Farkl\u0131 zaman dilimlerine g\u00f6re TAR hisse senedi ile detayl\u0131 yat\u0131r\u0131m stratejisi<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Temel, teknik ve makroekonomik fakt\u00f6rlerin kapsaml\u0131 analizi temelinde, TAR hisse senedi i\u00e7in \u00fc\u00e7 ana zaman dilimine g\u00f6re spesifik yat\u0131r\u0131m stratejileri geli\u015ftirilebilir: k\u0131sa vadeli, orta vadeli ve uzun vadeli.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u0131sa vadeli strateji (1-4 hafta): &#8220;Birikim b\u00f6lgesinde al, diren\u00e7 b\u00f6lgesinde sat&#8221; stratejisini 14.200-15.500 VND aral\u0131\u011f\u0131nda uygulay\u0131n. Fiyat 14.200-14.300 VND b\u00f6lgesine d\u00fczeltme yapt\u0131\u011f\u0131nda ve hacim azald\u0131\u011f\u0131nda, RSI g\u00f6stergesi 45-50 b\u00f6lgesine d\u00f6nd\u00fc\u011f\u00fcnde sat\u0131n al\u0131n. RSI a\u015f\u0131r\u0131 al\u0131m b\u00f6lgesine (70+) girdi\u011finde 15.300-15.500 VND&#8217;de sat\u0131\u015f hedefi belirleyin. Fiyat b\u00fcy\u00fck hacimle MA20&#8217;yi k\u0131rarsa 13.800 VND&#8217;de zarar\u0131 durdurun.<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Orta vadeli strateji (1-6 ay): Uzun vadeli bir pozisyon olu\u015fturma amac\u0131yla trend birikim stratejisini uygulay\u0131n. Fiyat \u00f6nemli teknik destek seviyelerine (14.200, 13.850, 13.200 VND) d\u00fczeltme yapt\u0131\u011f\u0131nda 3-4 al\u0131m a\u015famas\u0131nda sermaye tahsis edin. 2024 4. \u00c7eyrek veya 2025 1. \u00c7eyrek&#8217;te 16.800 VND (2 y\u0131l\u0131n en y\u00fckse\u011fi) fiyat hedefi. Piyasa olumsuz dalgalanmalara sahipse genel zarar\u0131 durdurma 12.800 VND&#8217;de.<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Uzun vadeli strateji (6 aydan fazla): TAR&#8217;\u0131 y\u0131ll\u0131k %12-15 b\u00fcy\u00fcme ve %5-7 temett\u00fc beklenen bir \u00e7ekirdek yat\u0131r\u0131m varl\u0131\u011f\u0131 olarak g\u00f6r\u00fcn. 15.000 VND&#8217;nin alt\u0131ndaki makul fiyat seviyelerinde kademeli olarak sat\u0131n al\u0131n ve 1-2 y\u0131l boyunca tutun. 2025 sonu i\u00e7in fiyat hedefi, 2025 EPS tahmini 1.380 VND ve hedef F\/K oran\u0131 14x&#8217;e dayanarak 18.500-19.200 VND&#8217;dir.<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>A\u015fa\u011f\u0131da, her strateji i\u00e7in \u00f6nemli ilkeler ve spesifik uygulama y\u00f6ntemlerinin \u00f6zet tablosu bulunmaktad\u0131r:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>\u0130lke<\/th>\n<th>Spesifik Uygulama Y\u00f6ntemi<\/th>\n<th>Uygulama Zaman\u0131<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Makul sermaye tahsisi<\/td>\n<td>TAR, portf\u00f6y\u00fcn %5-7&#8217;sini ge\u00e7memelidir; uzun vadeli strateji i\u00e7in %60, k\u0131sa-orta vadeli ticaret i\u00e7in %40 tahsis edin<\/td>\n<td>S\u00fcrekli uygulay\u0131n<\/td>\n<\/tr>\n<tr>\n<td>Risk y\u00f6netimi<\/td>\n<td>K\u0131sa vadeli zarar\u0131 durdurma: sat\u0131n alma fiyat\u0131ndan -%5; orta vadeli: -%8; uzun vadeli: -%15 veya ana trend k\u0131r\u0131ld\u0131\u011f\u0131nda<\/td>\n<td>Pozisyon a\u00e7\u0131ld\u0131\u011f\u0131nda hemen ayarlay\u0131n<\/td>\n<\/tr>\n<tr>\n<td>Ak\u0131ll\u0131 DCA stratejisi<\/td>\n<td>Sermayeyi 4 par\u00e7aya b\u00f6l\u00fcn: %30 mevcut fiyatta, %25 %3 d\u00fc\u015ft\u00fc\u011f\u00fcnde, %25 %6 d\u00fc\u015ft\u00fc\u011f\u00fcnde, %20 %9 d\u00fc\u015ft\u00fc\u011f\u00fcnde<\/td>\n<td>Orta-uzun vadeli pozisyon birikimine ba\u015flarken<\/td>\n<\/tr>\n<tr>\n<td>Kar alma disiplini<\/td>\n<td>K\u0131sa vadeli pozisyonun %50&#8217;sini +%8&#8217;e ula\u015ft\u0131\u011f\u0131nda kapat\u0131n, +%12&#8217;ye ula\u015ft\u0131\u011f\u0131nda %100&#8217;\u00fcn\u00fc kapat\u0131n; orta vadeli pozisyonun %30&#8217;unu +%15&#8217;e ula\u015ft\u0131\u011f\u0131nda kapat\u0131n<\/td>\n<td>Fiyat hedefe ula\u015ft\u0131\u011f\u0131nda veya a\u015f\u0131r\u0131 al\u0131m b\u00f6lgesine girdi\u011finde<\/td>\n<\/tr>\n<tr>\n<td>Kataliz\u00f6rleri izleme<\/td>\n<td>Pozisyonu art\u0131r\u0131n: beklentileri a\u015fan \u00e7eyrek raporu, yeni proje ihaleleri kazanma, sekt\u00f6r destek politikalar\u0131 gibi olumlu kataliz\u00f6rler oldu\u011funda<\/td>\n<td>\u0130\u015f sonu\u00e7lar\u0131 a\u00e7\u0131klama takvimine g\u00f6re (2. \u00c7eyrek 15-20 Temmuz, 3. \u00c7eyrek 15-20 Ekim)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option, TAR hisse senedi \u00f6nemli fiyat seviyelerine ula\u015ft\u0131\u011f\u0131nda veya teknik modelleri k\u0131rd\u0131\u011f\u0131nda otomatik uyar\u0131lar ayarlamaya yard\u0131mc\u0131 olan &#8220;TAR Fiyat Uyar\u0131s\u0131&#8221; arac\u0131n\u0131 sunmaktad\u0131r. Ayr\u0131ca, &#8220;Pozisyon Boyutland\u0131rma Hesaplay\u0131c\u0131s\u0131&#8221; arac\u0131, kabul edilebilir risk seviyesine ve \u00f6nceden belirlenmi\u015f zarar\u0131 durdurma noktas\u0131na dayal\u0131 olarak optimal sipari\u015f boyutunu hesaplamaya yard\u0131mc\u0131 olur.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Dikkate de\u011fer bir bak\u0131\u015f a\u00e7\u0131s\u0131, bir\u00e7ok yat\u0131r\u0131mc\u0131 in\u015faat sekt\u00f6r\u00fc hisse senetlerini genellikle k\u0131sa vadeli ticaret f\u0131rsatlar\u0131 olarak g\u00f6rse de, \u00e7e\u015fitli i\u015f modeli, d\u00fc\u015f\u00fck bor\u00e7 oran\u0131 ve cazip temett\u00fc politikas\u0131 ile Trung An hisse senedinin ger\u00e7ekten bir yat\u0131r\u0131m portf\u00f6y\u00fcnde uzun vadeli bir varl\u0131k olabilece\u011fidir. Yat\u0131r\u0131mc\u0131lar, fiyatlar g\u00fc\u00e7l\u00fc dalgaland\u0131\u011f\u0131nda &#8220;sat\u0131n al ve tut&#8221; stratejisini &#8220;d\u00f6nemsel yeniden dengeleme&#8221; ile birle\u015ftirmeyi d\u00fc\u015f\u00fcnebilirler.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>TAR hisse senedinin 3 ana rakiple detayl\u0131 kar\u015f\u0131la\u015ft\u0131rmas\u0131<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>TAR hisse senedinin rekabet\u00e7i konumunu objektif bir \u015fekilde de\u011ferlendirmek i\u00e7in, HNX&#8217;te listelenen k\u00fc\u00e7\u00fck ve orta \u00f6l\u00e7ekli in\u015faat \u015firketleri segmentindeki do\u011frudan rakiplerle kar\u015f\u0131la\u015ft\u0131r\u0131lmas\u0131 gereklidir. A\u015fa\u011f\u0131da, 3 ana rakip ile detayl\u0131 bir kar\u015f\u0131la\u015ft\u0131rma tablosu bulunmaktad\u0131r: HU1 (HUD1 Yat\u0131r\u0131m ve \u0130n\u015faat A.\u015e.), C47 (\u0130n\u015faat A.\u015e. 47) ve CII (Ho Chi Minh \u015eehri Altyap\u0131 Yat\u0131r\u0131m A.\u015e.).<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>G\u00f6sterge (2\u00c7\/2024)<\/th>\n<th>TAR<\/th>\n<th>HU1<\/th>\n<th>C47<\/th>\n<th>CII<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Piyasa de\u011feri (milyar VND)<\/td>\n<td>610<\/td>\n<td>720<\/td>\n<td>580<\/td>\n<td>1.350<\/td>\n<\/tr>\n<tr>\n<td>Gelir 6A\/2024 (milyar VND)<\/td>\n<td>362 (+%14,2 Y\u0131ll\u0131k)<\/td>\n<td>386 (+%8,5 Y\u0131ll\u0131k)<\/td>\n<td>312 (+%6,2 Y\u0131ll\u0131k)<\/td>\n<td>658 (+%12,8 Y\u0131ll\u0131k)<\/td>\n<\/tr>\n<tr>\n<td>Net kar 6A\/2024 (milyar VND)<\/td>\n<td>23,8 (+%15,6 Y\u0131ll\u0131k)<\/td>\n<td>20,2 (+%10,3 Y\u0131ll\u0131k)<\/td>\n<td>16,5 (+%7,8 Y\u0131ll\u0131k)<\/td>\n<td>48,2 (+%14,5 Y\u0131ll\u0131k)<\/td>\n<\/tr>\n<tr>\n<td>Net kar marj\u0131 (%)<\/td>\n<td>%6,6<\/td>\n<td>%5,2<\/td>\n<td>%5,3<\/td>\n<td>%7,3<\/td>\n<\/tr>\n<tr>\n<td>F\/K (\u00f6ng\u00f6r\u00fclen 2024)<\/td>\n<td>13,5x<\/td>\n<td>17,8x<\/td>\n<td>15,2x<\/td>\n<td>14,3x<\/td>\n<\/tr>\n<tr>\n<td>ROE (%)<\/td>\n<td>%9,5 (beklenen)<\/td>\n<td>%7,8<\/td>\n<td>%7,2<\/td>\n<td>%10,5<\/td>\n<\/tr>\n<tr>\n<td>Bor\u00e7\/\u00d6zsermaye oran\u0131<\/td>\n<td>0,82x<\/td>\n<td>1,24x<\/td>\n<td>1,35x<\/td>\n<td>1,08x<\/td>\n<\/tr>\n<tr>\n<td>Gelir yap\u0131s\u0131nda gayrimenkul oran\u0131<\/td>\n<td>%25,4<\/td>\n<td>%15,6<\/td>\n<td>%8,2<\/td>\n<td>%35,7<\/td>\n<\/tr>\n<tr>\n<td>\u0130hale kazanma oran\u0131 6A\/2024<\/td>\n<td>%42,7<\/td>\n<td>%38,5<\/td>\n<td>%32,3<\/td>\n<td>%45,2<\/td>\n<\/tr>\n<tr>\n<td>Nakit temett\u00fc 2023 (beklenen 2024)<\/td>\n<td>%6 (%7)<\/td>\n<td>%5 (%5)<\/td>\n<td>%4 (%4,5)<\/td>\n<td>%3 (%3,5)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Kar\u015f\u0131la\u015ft\u0131rmal\u0131 analiz, TAR hisse senedinin birka\u00e7 \u00f6ne \u00e7\u0131kan rekabet avantaj\u0131na sahip oldu\u011funu g\u00f6stermektedir:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Grup i\u00e7inde en y\u00fcksek gelir ve kar b\u00fcy\u00fcme oran\u0131 (%14,2 ve %15,6), sadece iki kat b\u00fcy\u00fckl\u00fc\u011fe sahip CII&#8217;nin ard\u0131ndan<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>En sa\u011fl\u0131kl\u0131 finansal yap\u0131 ile en d\u00fc\u015f\u00fck bor\u00e7\/\u00f6zsermaye oran\u0131 (0,82x), finansal maliyetleri azaltmaya ve piyasa dalgaland\u0131\u011f\u0131nda dayan\u0131kl\u0131l\u0131\u011f\u0131 art\u0131rmaya yard\u0131mc\u0131 olur<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0130n\u015faat ve gayrimenkul segmentleri aras\u0131nda iyi bir denge (gayrimenkul oran\u0131 %25,4), HU1 ve C47&#8217;den daha y\u00fcksek, makul kar marjlar\u0131n\u0131 (%6,6) sa\u011flamaya yard\u0131mc\u0131 olur<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Grup ortalamas\u0131na (15,1x) k\u0131yasla en cazip de\u011ferleme (F\/K 13,5x), en y\u00fcksek temett\u00fc oran\u0131na (%6-7) sahipken<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kuzey Orta b\u00f6lgesinde ula\u015f\u0131m in\u015faat\u0131 alan\u0131nda itibar ve deneyim sayesinde y\u00fcksek ihale kazanma oran\u0131 (%42,7)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option, makul de\u011ferleme ve iyi temel g\u00f6stergelerle, TAR hisse senedinin \u015fu anda k\u00fc\u00e7\u00fck ve orta \u00f6l\u00e7ekli in\u015faat i\u015f grubu i\u00e7inde en cazip yat\u0131r\u0131m se\u00e7ene\u011fi oldu\u011funu de\u011ferlendirmektedir. Piyasa de\u011feri ve geliri CII&#8217;den daha d\u00fc\u015f\u00fck olmas\u0131na ra\u011fmen, TAR daha y\u00fcksek b\u00fcy\u00fcme potansiyeline ve daha cazip bir de\u011ferlemeye sahiptir, bu da \u00f6n\u00fcm\u00fczdeki 6-12 ay i\u00e7inde %15-20&#8217;lik fiyat art\u0131\u015flar\u0131 i\u00e7in alan yaratmaktad\u0131r.<\/p>\n<\/div>\n    <div class=\"po-container po-container_width_article\">\n        <a href=\"\/en\/quick-start\/\" class=\"po-line-banner po-article-page__line-banner\">\n            <svg class=\"svg-image po-line-banner__logo\" fill=\"currentColor\" width=\"auto\" height=\"auto\"\n                 aria-hidden=\"true\">\n                <use href=\"#svg-img-logo-white\"><\/use>\n            <\/svg>\n            <span class=\"po-line-banner__btn\"><\/span>\n        <\/a>\n    <\/div>\n    \n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Sonu\u00e7: TAR hisse senedinin yat\u0131r\u0131m beklentileri ve fiyat hedefleri<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Temel, teknik, makroekonomik ve sekt\u00f6r kar\u015f\u0131la\u015ft\u0131rmalar\u0131n\u0131n kapsaml\u0131 analizi sonras\u0131nda, TAR hisse senedi de\u011ferlendirmesi hakk\u0131nda spesifik sonu\u00e7lar ve beklentiler \u00e7\u0131kar\u0131labilir:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>TAR hisse senedi, \u00e7e\u015fitli i\u015f modeli, g\u00fc\u00e7l\u00fc finansal yap\u0131s\u0131 (bor\u00e7\/\u00f6zsermaye oran\u0131 sadece 0,82x) ve in\u015faat ile gayrimenkul aras\u0131nda denge kurmay\u0131 hedefleyen net geli\u015fim stratejisi ile avantajl\u0131 bir konumdad\u0131r. 2024&#8217;\u00fcn ilk 6 ay\u0131 i\u00e7in i\u015f sonu\u00e7lar\u0131, 362 milyar VND&#8217;ye ula\u015fan gelir (+%14,2 Y\u0131ll\u0131k) ve 23,8 milyar VND&#8217;ye ula\u015fan net kar (+%15,6 Y\u0131ll\u0131k) ile olumlu olup, g\u00fc\u00e7l\u00fc bir b\u00fcy\u00fcme ivmesi g\u00f6stermektedir.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>De\u011ferleme a\u00e7\u0131s\u0131ndan, 2024 i\u00e7in \u00f6ng\u00f6r\u00fclen F\/K oran\u0131 13,5x ve P\/B oran\u0131 1,2x ile TAR hisse senedi, b\u00fcy\u00fcme potansiyeline ve sekt\u00f6r ortalamas\u0131na k\u0131yasla cazip bir seviyede i\u015flem g\u00f6rmektedir. DCF modeli, hisse senedinin adil de\u011ferini 16.800-17.500 VND olarak g\u00f6stermekte olup, mevcut fiyat olan 14.600 VND&#8217;den %15-20 daha y\u00fcksektir.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u00d6n\u00fcm\u00fczdeki 12-18 ayda b\u00fcy\u00fcmeyi destekleyen fakt\u00f6rler \u015funlard\u0131r:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>2024 2. \u00c7eyrekten itibaren gayrimenkul pazar\u0131n\u0131n toparlanma ivmesi, TAR&#8217;\u0131n gayrimenkul i\u015f segmentini art\u0131racak ve 2025 y\u0131l\u0131na kadar gelirin %30&#8217;unu ve kar\u0131n %45&#8217;ini katk\u0131da bulunmas\u0131 bekleniyor<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kamu yat\u0131r\u0131mlar\u0131, Kuzey-G\u00fcney otoyolunun 28 bile\u015fen projesi ile h\u0131zland\u0131r\u0131lmaya devam ediyor ve TAR i\u00e7in Kuzey Orta b\u00f6lgesinde \u00f6nemli ihale f\u0131rsatlar\u0131 yarat\u0131yor<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Gelir kaynaklar\u0131n\u0131 \u00e7e\u015fitlendirme stratejisi ile ekipman kiralama segmentinin (y\u00fcksek kar marj\u0131 %42,7) oran\u0131n\u0131 kademeli olarak art\u0131rma, 2025 y\u0131l\u0131na kadar gelirin %5&#8217;ini katk\u0131da bulunmas\u0131 bekleniyor<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Faiz oranlar\u0131ndaki d\u00fc\u015f\u00fc\u015f e\u011filimi, finansal maliyetleri azaltacak ve gayrimenkul talebini te\u015fvik edecek, TAR&#8217;\u0131n her iki ana i\u015f segmentine fayda sa\u011flayacak<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ancak, yat\u0131r\u0131mc\u0131lar baz\u0131 riskleri de dikkate almal\u0131d\u0131r:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u00fcy\u00fck rakipler olan Hoa Binh, Coteccons gibi ula\u015f\u0131m in\u015faat projeleri i\u00e7in ihalelerde artan rekabet<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Y\u00fcksek in\u015faat talebi nedeniyle 2024&#8217;\u00fcn ikinci yar\u0131s\u0131nda in\u015faat malzemesi fiyatlar\u0131n\u0131n artmas\u0131, kar marjlar\u0131 \u00fczerinde bask\u0131 olu\u015fturabilir<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>TAR gibi orta sermayeli hisse senetleri i\u00e7in piyasa g\u00fc\u00e7l\u00fc dalgaland\u0131\u011f\u0131nda likidite riski<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kamu yat\u0131r\u0131m harcamalar\u0131n\u0131n yava\u015f ilerlemesi (ilk 6 ayda %32,2) devam eden projelerin nakit ak\u0131\u015f\u0131n\u0131 etkileyebilir<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Kapsaml\u0131 analiz temelinde, Pocket Option TAR hisse senedi i\u00e7in a\u015fa\u011f\u0131daki fiyat hedef tahminini sa\u011flamaktad\u0131r:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u0131sa vadeli hedef (1-3 ay): 15.500 VND (mevcut fiyattan +%6,2)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Orta vadeli hedef (3-6 ay): 16.800 VND (mevcut fiyattan +%15,1)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Uzun vadeli hedef (6-12 ay): 18.500 VND (mevcut fiyattan +%26,7)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Optimal yat\u0131r\u0131m stratejisi, pozisyonun %60-70&#8217;ini &#8220;sat\u0131n al ve tut&#8221; ile birle\u015ftirerek, 13.800-14.600 VND fiyat aral\u0131\u011f\u0131nda birikime odaklanmak, kalan %30-40&#8217;\u0131n\u0131 ise genel performans\u0131 art\u0131rmak i\u00e7in teknik trend ticaret stratejisi uygulamakt\u0131r. Fiyat \u00f6nemli teknik destek seviyelerine d\u00fczeltme yapt\u0131\u011f\u0131nda ve i\u015flem hacmi d\u00fc\u015f\u00fck oldu\u011funda iyi al\u0131m noktalar\u0131na \u00f6zel dikkat g\u00f6sterin.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>G\u00fc\u00e7l\u00fc finansal pozisyonu, net i\u015f stratejisi ve olumlu sekt\u00f6r beklentileri ile TAR hisse senedi, yat\u0131r\u0131m portf\u00f6ylerinde s\u00fcrd\u00fcr\u00fclebilir b\u00fcy\u00fcme f\u0131rsatlar\u0131 arayan orta ve uzun vadeli yat\u0131r\u0131mc\u0131lar i\u00e7in cazip bir yat\u0131r\u0131m se\u00e7ene\u011fi olmay\u0131 hak ediyor.<\/p>\n<\/div>\n"},"faq":[{"question":"TAR hissesi hangi \u015firkete ait ve hangi sekt\u00f6rde faaliyet g\u00f6steriyor?","answer":"TAR hissesi, Vietnam'da in\u015faat ve gayrimenkul alan\u0131nda 20 y\u0131l\u0131 a\u015fk\u0131n deneyime sahip Tien Son Thanh Hoa Anonim \u015eirketi'nin menkul k\u0131ymet kodudur. \u015eirketin 418,5 milyar VND tutar\u0131nda bir ana sermayesi ve 610 milyar VND tutar\u0131nda bir piyasa de\u011feri bulunmaktad\u0131r. 2024 y\u0131l\u0131n\u0131n ilk yar\u0131s\u0131 i\u00e7in gelir yap\u0131s\u0131 \u015funlar\u0131 i\u00e7ermektedir: in\u015faat i\u015fleri (%64,1), gayrimenkul i\u015fletmesi (%25,4), in\u015faat malzemeleri \u00fcretimi (%7,2) ve ekipman kiralama (%3,3). \u015eirket, toplam de\u011feri 1.230 milyar VND olan Kuzey-G\u00fcney otoyolunun 3 paketini i\u00e7eren bir\u00e7ok \u00f6nemli projede yer alm\u0131\u015ft\u0131r."},{"question":"TAR hissesinin rakiplerine k\u0131yasla ba\u015fl\u0131ca g\u00fc\u00e7l\u00fc ve zay\u0131f y\u00f6nleri nelerdir?","answer":"G\u00fc\u00e7l\u00fc Y\u00f6nler: Kar\u015f\u0131la\u015ft\u0131rma grubunda en y\u00fcksek gelir art\u0131\u015f oran\u0131 (%14,2) ve k\u00e2r art\u0131\u015f\u0131 (%15,6); en d\u00fc\u015f\u00fck bor\u00e7\/\u00f6zsermaye oran\u0131 (0,82x) ile g\u00fc\u00e7l\u00fc finansal yap\u0131; in\u015faat ve gayrimenkul aras\u0131nda iyi denge; \u00e7ekici temett\u00fc getirisi (%6-7); y\u00fcksek ihale ba\u015far\u0131 oran\u0131 (%42,7); grup ortalamas\u0131ndan (15,1x) daha d\u00fc\u015f\u00fck makul de\u011ferleme (F\/K 13,5x). Zay\u0131f Y\u00f6nler: Piyasa de\u011feri ve geliri CII'den daha k\u00fc\u00e7\u00fck; s\u0131n\u0131rl\u0131 likidite (285.000 hisse\/sesyon); potansiyele k\u0131yasla hen\u00fcz y\u00fcksek olmayan \u00f6zkaynak k\u00e2rl\u0131l\u0131\u011f\u0131 (%9,5); Kuzey Orta b\u00f6lgesindeki kamu yat\u0131r\u0131m projelerine ba\u011f\u0131ml\u0131l\u0131k."},{"question":"\u00d6n\u00fcm\u00fczdeki 6-12 ay i\u00e7inde TAR hisse senedinin beklentilerini etkileyen makroekonomik fakt\u00f6rler nelerdir?","answer":"Olumlu fakt\u00f6rler: Kamu yat\u0131r\u0131m\u0131 2024 y\u0131l\u0131nda %25 artt\u0131 (670.000 milyar VND) ve odak noktas\u0131 ula\u015f\u0131m altyap\u0131s\u0131 oldu; gayrimenkul piyasas\u0131 2024'\u00fcn ikinci \u00e7eyre\u011finden itibaren toparland\u0131 ve i\u015flemler %18,5 artt\u0131; faiz oranlar\u0131 y\u0131l ba\u015f\u0131ndan bu yana %0,5-1 azald\u0131, \u015fu anda %7-8\/y\u0131l seviyesinde; GSY\u0130H b\u00fcy\u00fcmesi 2024'\u00fcn ikinci \u00e7eyre\u011finde %6,42'ye ula\u015ft\u0131, y\u0131l i\u00e7in tahmin %6,5-7. Zorlay\u0131c\u0131 fakt\u00f6rler: 65.000'den fazla in\u015faat i\u015fletmesinden gelen \u015fiddetli rekabet; kamu yat\u0131r\u0131m\u0131 harcamalar\u0131nda yava\u015f ilerleme (2024'\u00fcn ilk yar\u0131s\u0131nda %32,2); y\u0131l\u0131n ikinci yar\u0131s\u0131nda in\u015faat malzemesi fiyatlar\u0131 artabilir."},{"question":"Farkl\u0131 yat\u0131r\u0131mc\u0131 gruplar\u0131 i\u00e7in TAR hisse senedi i\u00e7in hangi yat\u0131r\u0131m stratejileri uygundur?","answer":"K\u0131sa vadeli (1-4 hafta): 14.200-15.500 VND aral\u0131\u011f\u0131nda bir ticaret stratejisi uygulay\u0131n, 14.200-14.300 VND destek b\u00f6lgesinde RSI 45-50 ile sat\u0131n al\u0131n, RSI a\u015f\u0131r\u0131 al\u0131m b\u00f6lgesine girdi\u011finde 15.300-15.500 VND'de sat\u0131n. Stop-loss 13.800 VND'de. Orta vadeli (1-6 ay): Trende g\u00f6re biriktirin, sermayeyi destek seviyelerinde (14.200, 13.850, 13.200 VND) 3-4 al\u0131m a\u015famas\u0131na ay\u0131r\u0131n, 2024'\u00fcn 4. \u00e7eyre\u011fi veya 2025'in 1. \u00e7eyre\u011finde 16.800 VND hedefleyin. Uzun vadeli (6 aydan fazla): Y\u0131ll\u0131k %12-15 b\u00fcy\u00fcme ve %6-7 temett\u00fc beklentisiyle \"al ve tut\" stratejisi, 2025 sonunda fiyat hedefi 18.500-19.200 VND."},{"question":"Pocket Option, yat\u0131r\u0131mc\u0131lar\u0131n TAR hisse senedini analiz etmeleri ve ticaret yapmalar\u0131 i\u00e7in hangi ara\u00e7lar\u0131 sa\u011flar?","answer":"Pocket Option, bir\u00e7ok destekleyici ara\u00e7 sunar, \u00f6rne\u011fin: \"TAR Fiyat Uyar\u0131s\u0131\" - hisse senedi \u00f6nemli fiyat seviyelerine ula\u015ft\u0131\u011f\u0131nda veya teknik kal\u0131plar\u0131 k\u0131rd\u0131\u011f\u0131nda otomatik uyar\u0131 sistemi; \"Pozisyon Boyutland\u0131rma Hesaplay\u0131c\u0131s\u0131\" - risk seviyesi ve zarar durdurma noktas\u0131na g\u00f6re optimal sipari\u015f boyutunu hesaplama arac\u0131; 16,800-17,500 VND adil de\u011fer aral\u0131\u011f\u0131 sa\u011flayan DCF (\u0130skontolu Nakit Ak\u0131\u015f\u0131) de\u011ferleme modeli; \u00e7ok zaman dilimli teknik analiz; in\u015faat sekt\u00f6r\u00fcn\u00fc etkileyen fakt\u00f6rler \u00fczerine ayl\u0131k makroekonomik analiz raporlar\u0131; ve TAR ile rakipleri aras\u0131nda 10'dan fazla ayr\u0131nt\u0131l\u0131 finansal g\u00f6sterge ile sekt\u00f6r kar\u015f\u0131la\u015ft\u0131rma ara\u00e7lar\u0131."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"TAR hissesi hangi \u015firkete ait ve hangi sekt\u00f6rde faaliyet g\u00f6steriyor?","answer":"TAR hissesi, Vietnam'da in\u015faat ve gayrimenkul alan\u0131nda 20 y\u0131l\u0131 a\u015fk\u0131n deneyime sahip Tien Son Thanh Hoa Anonim \u015eirketi'nin menkul k\u0131ymet kodudur. \u015eirketin 418,5 milyar VND tutar\u0131nda bir ana sermayesi ve 610 milyar VND tutar\u0131nda bir piyasa de\u011feri bulunmaktad\u0131r. 2024 y\u0131l\u0131n\u0131n ilk yar\u0131s\u0131 i\u00e7in gelir yap\u0131s\u0131 \u015funlar\u0131 i\u00e7ermektedir: in\u015faat i\u015fleri (%64,1), gayrimenkul i\u015fletmesi (%25,4), in\u015faat malzemeleri \u00fcretimi (%7,2) ve ekipman kiralama (%3,3). \u015eirket, toplam de\u011feri 1.230 milyar VND olan Kuzey-G\u00fcney otoyolunun 3 paketini i\u00e7eren bir\u00e7ok \u00f6nemli projede yer alm\u0131\u015ft\u0131r."},{"question":"TAR hissesinin rakiplerine k\u0131yasla ba\u015fl\u0131ca g\u00fc\u00e7l\u00fc ve zay\u0131f y\u00f6nleri nelerdir?","answer":"G\u00fc\u00e7l\u00fc Y\u00f6nler: Kar\u015f\u0131la\u015ft\u0131rma grubunda en y\u00fcksek gelir art\u0131\u015f oran\u0131 (%14,2) ve k\u00e2r art\u0131\u015f\u0131 (%15,6); en d\u00fc\u015f\u00fck bor\u00e7\/\u00f6zsermaye oran\u0131 (0,82x) ile g\u00fc\u00e7l\u00fc finansal yap\u0131; in\u015faat ve gayrimenkul aras\u0131nda iyi denge; \u00e7ekici temett\u00fc getirisi (%6-7); y\u00fcksek ihale ba\u015far\u0131 oran\u0131 (%42,7); grup ortalamas\u0131ndan (15,1x) daha d\u00fc\u015f\u00fck makul de\u011ferleme (F\/K 13,5x). Zay\u0131f Y\u00f6nler: Piyasa de\u011feri ve geliri CII'den daha k\u00fc\u00e7\u00fck; s\u0131n\u0131rl\u0131 likidite (285.000 hisse\/sesyon); potansiyele k\u0131yasla hen\u00fcz y\u00fcksek olmayan \u00f6zkaynak k\u00e2rl\u0131l\u0131\u011f\u0131 (%9,5); Kuzey Orta b\u00f6lgesindeki kamu yat\u0131r\u0131m projelerine ba\u011f\u0131ml\u0131l\u0131k."},{"question":"\u00d6n\u00fcm\u00fczdeki 6-12 ay i\u00e7inde TAR hisse senedinin beklentilerini etkileyen makroekonomik fakt\u00f6rler nelerdir?","answer":"Olumlu fakt\u00f6rler: Kamu yat\u0131r\u0131m\u0131 2024 y\u0131l\u0131nda %25 artt\u0131 (670.000 milyar VND) ve odak noktas\u0131 ula\u015f\u0131m altyap\u0131s\u0131 oldu; gayrimenkul piyasas\u0131 2024'\u00fcn ikinci \u00e7eyre\u011finden itibaren toparland\u0131 ve i\u015flemler %18,5 artt\u0131; faiz oranlar\u0131 y\u0131l ba\u015f\u0131ndan bu yana %0,5-1 azald\u0131, \u015fu anda %7-8\/y\u0131l seviyesinde; GSY\u0130H b\u00fcy\u00fcmesi 2024'\u00fcn ikinci \u00e7eyre\u011finde %6,42'ye ula\u015ft\u0131, y\u0131l i\u00e7in tahmin %6,5-7. Zorlay\u0131c\u0131 fakt\u00f6rler: 65.000'den fazla in\u015faat i\u015fletmesinden gelen \u015fiddetli rekabet; kamu yat\u0131r\u0131m\u0131 harcamalar\u0131nda yava\u015f ilerleme (2024'\u00fcn ilk yar\u0131s\u0131nda %32,2); y\u0131l\u0131n ikinci yar\u0131s\u0131nda in\u015faat malzemesi fiyatlar\u0131 artabilir."},{"question":"Farkl\u0131 yat\u0131r\u0131mc\u0131 gruplar\u0131 i\u00e7in TAR hisse senedi i\u00e7in hangi yat\u0131r\u0131m stratejileri uygundur?","answer":"K\u0131sa vadeli (1-4 hafta): 14.200-15.500 VND aral\u0131\u011f\u0131nda bir ticaret stratejisi uygulay\u0131n, 14.200-14.300 VND destek b\u00f6lgesinde RSI 45-50 ile sat\u0131n al\u0131n, RSI a\u015f\u0131r\u0131 al\u0131m b\u00f6lgesine girdi\u011finde 15.300-15.500 VND'de sat\u0131n. Stop-loss 13.800 VND'de. Orta vadeli (1-6 ay): Trende g\u00f6re biriktirin, sermayeyi destek seviyelerinde (14.200, 13.850, 13.200 VND) 3-4 al\u0131m a\u015famas\u0131na ay\u0131r\u0131n, 2024'\u00fcn 4. \u00e7eyre\u011fi veya 2025'in 1. \u00e7eyre\u011finde 16.800 VND hedefleyin. Uzun vadeli (6 aydan fazla): Y\u0131ll\u0131k %12-15 b\u00fcy\u00fcme ve %6-7 temett\u00fc beklentisiyle \"al ve tut\" stratejisi, 2025 sonunda fiyat hedefi 18.500-19.200 VND."},{"question":"Pocket Option, yat\u0131r\u0131mc\u0131lar\u0131n TAR hisse senedini analiz etmeleri ve ticaret yapmalar\u0131 i\u00e7in hangi ara\u00e7lar\u0131 sa\u011flar?","answer":"Pocket Option, bir\u00e7ok destekleyici ara\u00e7 sunar, \u00f6rne\u011fin: \"TAR Fiyat Uyar\u0131s\u0131\" - hisse senedi \u00f6nemli fiyat seviyelerine ula\u015ft\u0131\u011f\u0131nda veya teknik kal\u0131plar\u0131 k\u0131rd\u0131\u011f\u0131nda otomatik uyar\u0131 sistemi; \"Pozisyon Boyutland\u0131rma Hesaplay\u0131c\u0131s\u0131\" - risk seviyesi ve zarar durdurma noktas\u0131na g\u00f6re optimal sipari\u015f boyutunu hesaplama arac\u0131; 16,800-17,500 VND adil de\u011fer aral\u0131\u011f\u0131 sa\u011flayan DCF (\u0130skontolu Nakit Ak\u0131\u015f\u0131) de\u011ferleme modeli; \u00e7ok zaman dilimli teknik analiz; in\u015faat sekt\u00f6r\u00fcn\u00fc etkileyen fakt\u00f6rler \u00fczerine ayl\u0131k makroekonomik analiz raporlar\u0131; ve TAR ile rakipleri aras\u0131nda 10'dan fazla ayr\u0131nt\u0131l\u0131 finansal g\u00f6sterge ile sekt\u00f6r kar\u015f\u0131la\u015ft\u0131rma ara\u00e7lar\u0131."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TAR Hisse Senedi: 2024 Veri Analizi ve Karl\u0131 Yat\u0131r\u0131m Stratejisi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pocketoption.com\/blog\/tr\/knowledge-base\/markets\/tar-stock\/\" \/>\n<meta property=\"og:locale\" content=\"tr_TR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TAR Hisse Senedi: 2024 Veri Analizi ve Karl\u0131 Yat\u0131r\u0131m 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