Using Scans to Find Stocks to Buy
Stock scans or screens are probably the most used method for beginning to find stocks to invest in. All you need to do is choose your parameters and then let the scan run. While it is a pretty useful resource, many traders have no idea how to use it.
The beauty of the scans are that there are almost unlimited ways to set them, and you only have to use what you know. While most online brokerages offer some form of a screener, there are also many viable free ones that you should consider:
Still confused? Stock scans allow you the ease of finding stocks that meet your needs/setup:
- Like to trade stocks that just crossed a 200 day moving average?
- About stocks that just crossed the 200 day moving average and trades above or below a certain trading volume?
While stock scans may seem of better use for fundamental traders, there are several scans that allow you to find stocks based on patterns the stock’s chart exhibit: