AlpharvestPro亞洲四大市場 CANSLIM 選股實戰
CANSLIM Screening Across 4 Asian Markets亞洲四大市場 CANSLIM 選股實戰
What is CANSLIM?
CANSLIM is a growth stock selection methodology created by William O'Neil, founder of Investor's Business Daily. Each letter represents a key criterion for identifying stocks with the potential for major price advances:
| Letter | Criterion | What to Look For |
|---|---|---|
| **C** | Current quarterly EPS | 25%+ growth year-over-year |
| **A** | Annual earnings growth | Consistent annual EPS growth |
| **N** | New product, management, or price high | Catalyst driving the stock |
| **S** | Supply and demand | Low share count + high volume on breakouts |
| **L** | Leader or laggard | RS Rating 80+ (buy leaders, avoid laggards) |
| **I** | Institutional sponsorship | 20-80% institutional ownership |
| **M** | Market direction | Buy in confirmed uptrends, protect in corrections |
什麼是 CANSLIM？
CANSLIM 是由 Investor's Business Daily 創辦人威廉·歐尼爾所提出的成長股選股法。每個英文字母都代表一項用於辨識「具大波段上漲潛力」個股的關鍵條件:
| 字母 | 對應條件 | 觀察重點 |
|---|---|---|
| **C** | 當季每股盈餘(EPS)成長 | 年增 25% 以上 |
| **A** | 年度盈餘成長 | 年度 EPS 持續穩定成長 |
| **N** | 新產品、新管理層或新高價 | 推動股價的觸媒 |
| **S** | 籌碼供需(Supply & Demand) | 流通在外股數少 + 突破時成交量放大 |
| **L** | 領先股或落後股 | RS 相對強弱評等 80 以上(買領先股、避落後股) |
| **I** | 法人持股 | 法人持股比例 20-80% |
| **M** | 大盤方向 | 上升趨勢確認時才進場、修正時防守 |
AlpharvestPro's 12-Point Fundamental Score
We adapted CANSLIM into a quantitative 12-point scoring system that can be applied automatically across all 4 markets:
| # | Criterion | Source | CANSLIM Letter |
|---|---|---|---|
| 1 | Quarterly EPS growth ≥25% (QoQ YoY) | Financial reports | C |
| 2 | Annual EPS growth positive | Annual statements | A |
| 3 | EPS acceleration (growth accelerating) | Quarter-over-quarter comparison | A |
| 4 | Revenue growth ≥25% | Financial reports | C (supplementary) |
| 5 | Revenue acceleration | Quarter comparison | A (supplementary) |
| 6 | ROE ≥17% | Balance sheet | Quality check |
| 7 | Operating margin >10% | Income statement | Profitability |
| 8 | Debt/Equity ratio <1.5 | Balance sheet | Financial health |
| 9 | Earnings beat or forward growth positive | Analyst estimates | N (catalyst) |
| 10 | Operating cash flow positive | Cash flow statement | Quality of earnings |
| 11 | Institutional ownership 20-80% | Ownership data | I |
| 12 | Forward P/E <40 | Valuation metrics | Reasonable valuation |
Each criterion that passes scores 1 point. Maximum score: 12/12.
AlpharvestPro 的 12 項基本面評分
我們將 CANSLIM 改編為一套量化的 12 項評分系統,可在四大市場自動套用:
| # | 條件 | 資料來源 | CANSLIM 字母 |
|---|---|---|---|
| 1 | 當季 EPS 成長 ≥25%(QoQ YoY) | 財報 | C |
| 2 | 年度 EPS 成長為正 | 年報 | A |
| 3 | EPS 加速(成長率持續加速) | 季與季比較 | A |
| 4 | 營收成長 ≥25% | 財報 | C(輔助) |
| 5 | 營收加速 | 季與季比較 | A(輔助) |
| 6 | 股東權益報酬率(ROE) ≥17% | 資產負債表 | 品質檢核 |
| 7 | 營業利潤率 >10% | 損益表 | 獲利能力 |
| 8 | 負債/權益比 <1.5 | 資產負債表 | 財務體質 |
| 9 | 財報優於預期或下季展望成長為正 | 分析師預估 | N(觸媒) |
| 10 | 營業現金流量為正 | 現金流量表 | 獲利品質 |
| 11 | 法人持股比例 20-80% | 持股資料 | I |
| 12 | 預估本益比 <40 | 評價指標 | 合理估值 |
每符合一項記 1 分,滿分 12/12。
Data Sources by Market
The challenge of multi-market CANSLIM screening is data availability. Each market has different data sources:
| Market | Financial Data | Ownership | Estimates | Update Frequency |
|---|---|---|---|---|
| Japan | J-Quants (free tier) + yfinance | yfinance | yfinance | Tue-Sat 00:30 UTC |
| US | yfinance (.info + .quarterly_financials) | yfinance | yfinance | Tue-Sat 00:30 UTC |
| Taiwan | yfinance | yfinance | yfinance | Tue-Sat 00:30 UTC |
| Hong Kong | yfinance | yfinance | yfinance | Tue-Sat 00:30 UTC |
Japan benefits from J-Quants, which provides standardized Japanese financial statement data. For all other markets, yfinance provides global coverage through Yahoo Finance data.
Score Interpretation
| Score | Label | Meaning |
|---|---|---|
| 10-12 | Excellent | Strong fundamentals across all CANSLIM criteria |
| 7-9 | Good | Solid growth with minor gaps |
| 4-6 | Average | Mixed fundamentals — proceed with caution |
| 0-3 | Weak | Missing key growth criteria |
Best used when combined with technical screening:
The most powerful setups occur when a stock scores high on BOTH fundamental (CANSLIM) and technical (Minervini) measures:
- CANSLIM 10+ AND Minervini 8+: The strongest candidates — fundamentally sound companies in confirmed uptrends
- CANSLIM 10+ BUT Minervini <6: Good company, bad timing — wait for the technical setup to improve
- CANSLIM <6 BUT Minervini 10: Technical momentum without fundamental support — higher risk
各市場資料來源
跨市場執行 CANSLIM 篩選的最大挑戰是資料是否齊備,各市場的資料來源也不同:
| 市場 | 財務資料 | 持股資料 | 預估值 | 更新頻率 |
|---|---|---|---|---|
| 日本股市 | J-Quants(免費版) + yfinance | yfinance | yfinance | 週二至週六 00:30 UTC |
| 美國股市 | yfinance(.info + .quarterly_financials) | yfinance | yfinance | 週二至週六 00:30 UTC |
| 台股 | yfinance | yfinance | yfinance | 週二至週六 00:30 UTC |
| 港股 | yfinance | yfinance | yfinance | 週二至週六 00:30 UTC |
日本股市可額外受惠於 J-Quants 提供的標準化日股財報資料。其他市場則統一透過 yfinance(基於 Yahoo Finance)取得全球資料。
評分判讀
| 分數 | 標籤 | 意義 |
|---|---|---|
| 10-12 | 優異 | 全部 CANSLIM 條件皆強勁 |
| 7-9 | 良好 | 成長扎實,僅有少數小缺口 |
| 4-6 | 平均 | 基本面參差 ── 操作宜謹慎 |
| 0-3 | 弱勢 | 缺乏關鍵成長條件 |
與技術面篩選搭配效果最佳:
當一檔個股在基本面(CANSLIM)與技術面(明納維尼)雙雙得高分時,才是最強的進場組合:
- CANSLIM 10+ 且 明納維尼 8+: 最強候選 ── 基本面扎實,且處於確認的上升趨勢
- CANSLIM 10+ 但 明納維尼 <6: 好公司、壞時機 ── 等技術面改善再進場
- CANSLIM <6 但 明納維尼 10: 技術動能但缺乏基本面支撐 ── 風險偏高
The "M" Factor: Market Direction
The often-overlooked "M" in CANSLIM stands for Market Direction. O'Neil emphasized that 3 out of 4 stocks follow the general market direction. Even the best CANSLIM stocks struggle in bear markets.
AlpharvestPro tracks market direction through:
- Composite Sentiment Score: 0-100 scale, weighted across 7 indicators
- % Above MA50: Short-term market breadth (below 30% = caution)
- % Above MA200: Long-term market breadth (below 50% = defensive)
When the composite score drops below 40, reduce exposure regardless of individual stock scores. This is the "M" telling you to protect capital.
「M」因素:大盤方向
CANSLIM 中常被忽略的「M」代表 Market Direction(大盤方向)。歐尼爾再三強調:每 4 檔個股中,大約有 3 檔會跟著大盤走。即使是最頂級的 CANSLIM 強勢股,在空頭市場也很難倖免。
AlpharvestPro 透過以下指標監控大盤方向:
- 綜合情緒分數: 0-100 區間,結合 7 項指標加權
- MA50 之上比率: 短期市場廣度(低於 30% = 警戒)
- MA200 之上比率: 長期市場廣度(低於 50% = 防守)
當綜合分數跌破 40 時,不論個股分數高低都應降低部位 ── 這正是 CANSLIM 的「M」在告訴你:該保護資金了。
實戰流程
- 先確認大盤方向 ── 在情緒儀表板查看各市場綜合分數
- 篩選 CANSLIM 8+ ── 在每週二至週六的基本面分析報表中可查
- 與明納維尼分數交叉比對 ── 鎖定兩項皆高分的個股
- 等待進場訊號 ── VCP 突破、口袋樞紐(Pocket Pivot)或其他技術進場點
- 設定風險控管 ── 在進場型態下方設停損,依據自身可承受風險決定部位規模
Practical Workflow
- Check market direction first — Sentiment Dashboard shows composite score for each market
- Screen for CANSLIM 8+ — Available in the Fundamental Analysis reports (Tue-Sat)
- Cross-reference with Minervini Score — Focus on stocks that score high on both
- Wait for entry signal — VCP breakout, Pocket Pivot, or other technical entry
- Set risk management — Stop-loss below entry pattern, position size based on risk tolerance
FAQ
Does CANSLIM work in Asian markets?
Yes. The fundamental principles — strong earnings growth, institutional buying, market leadership — are universal. AlpharvestPro adapts the criteria to each market's data availability and reporting standards.
How often are fundamental scores updated?
Tuesday through Saturday at 00:30 UTC. Financial data updates less frequently than price data (quarterly reports), but the scoring recalculates daily to capture any data changes.
Why 12 points instead of O'Neil's original 7?
O'Neil's CANSLIM is qualitative — "check if EPS is growing." Our 12-point system quantifies each factor with specific thresholds, making it objective and automatable across 14,000+ stocks.
CANSLIM 在亞洲市場行得通嗎?
行得通。「強勁業績成長、法人持續買進、市場領先」這些根本原則在所有市場都是普世通用。AlpharvestPro 會依各市場的資料取得便利程度與財報揭露標準調整門檻。
基本面分數多久更新一次?
週二至週六 UTC 00:30 更新。財報資料更新頻率較股價低(每季發布一次),但為了反映任何資料變動,評分仍每天重新計算。
為什麼是 12 項而不是歐尼爾原本的 7 項?
歐尼爾的 CANSLIM 是「定性」評估 ── 例如「看 EPS 是不是有成長」。我們的 12 項系統則為每項因素設定了具體門檻,使其客觀且能自動套用於 14,000 檔以上的個股。
This content is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or solicitation to buy or sell securities.
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