One of the primary methods to invest in stocks is technical analysis. Unlike fundamental analysis, technical analysis tends to focus solely on the current price of stocks. This strategy is based on the philosophy that the current share price bakes in all the catalysts and publically available information. Therefore, technical analysis of stocks strives to find out the hidden trends by doing exhaustive statistical analysis of price movements.
Learn Technical Analysis of Stocks
The best way to get technical analysis of stocks is to follow the “10,000 hours” rule and starting putting in some work and time yourself. There are several resources available both online and offline to learn technical analysis of stocks. I’d recommend starting from Investopedia and basic investing books. Instead of paying attention to the fundamental attributes of the company, develop a keen eye for price trends and predictions based on the stock’s past graphs. Seeking Alpha is another useful website where different stock analysts and financial investment firms publish their reports which are mostly based on technical analysis of stocks.
Technical Analysis By Robert Edwards
Technical Analysis of Stock Trends by Robert Edwards is one of the authority titles out there if you want to dig deeper and master the art of technical analysis of stocks and finding trends in them. This book will equip you with ways to trade stocks irrespective of the market hype and fundamental analysis.
If you are a beginner and don’t want to invest hours and money in getting technical analysis of stocks, Robo Advisors is the best way to go. Robo Advisors use smart computer algorithms to spot trends within stock patterns. They are extremely easy to use. For example, using the TAnalyzer Robo Advisor, you can technically analyze a stock within a seconds. Just put in the stock ticker and the system will analyze the stock and tell you whether the stock will hit a specified price target or not. The algorithm of Robo Advisors is perhaps the best technical analyzer of stocks which you could consult for free.
Trading View is the powerhouse of technical stock analysis and trends. It is a community of thousands of experts who talk nothing but charts, trends, and technical trading. You can get all the nitty gritty technical details and charts of stocks by just plugging in the ticker.
Master the Game of Charts
Charts are indispensable in technical analysis of stocks. If you don’t know how to read charts of stocks and glean complex trends out of them, you won’t be able to get the best out of your fundamental analysis attempts. If you want to learn stocks charts, start from the famous website ChartGame. YCharts is also a great platform which gives you easy-to-read charts to find out patterns and trends.