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Technical Analysis |
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You will need a charting package, usually provided by an Internet site to perform technical analysis on the stocks you want to chart. There are several sites that provide adequate charting tools and several others that are outstanding. One that I use occasionally is Bigcharts.com they provide good basic charting and stock option price chains. Their basic site is free. Another that I use and am going to sample the premium services (7 day free trial) is Prophet.net charts, technical analysis 7 financial market data. The online version of Investor’s Business Daily provides some great charting and analysis tools for investors with a price of about $200 for a year’s subscription. A craftsman must have good tools and this is a good site. The site that I use most is Business Week’s Investor Toolbox. It has both technical and fundamental information and ratings on stocks. It is pricey at $50 per month after attending at least one of their seminars. An investor absolutely must have access to a site that will let them use moving averages (MA), MACD histograms, and Bollinger Bands. One of the quickest ways to spot a stock that is a good candidate for purchase is when the price has been trading in a narrow range for at least a few weeks and the Bollinger Bands are coiled narrowly and then the price breaks out above the upper band. When it closes outside the upper band it is a powerful signal that the price is headed higher. Yum yum. I love those. |