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Better Trades > Tools and Tips > Stock Charts

Stock Charts

Being able to read a stock chart is an essential skill for anyone wishing to learn option trading. Charts can be interpreted to give an indication of which direction a stock may be headed.

The most commonly used chart is the line chart, which is based on the stock's closing price for the day. The line chart is most effective when viewing a chart's historical prices.

Stock Charts by Better Trades

Candlestick charts, a format developed long ago in Japan, are a better source for interpreting the day's events. Candlesticks have a body; they can vary in shape depending on the range of prices traded by the stock. A black candlestick denotes a bearish day. A white, or open candlestick, denotes a bullish day. Candlesticks show the range in which the stock traded during the day.

Candlestick Chart by BetterTrades

Extreme Charts and Simutrade Manager, a tool created by BetterTrades, is the ultimate charting program. Users can monitor a stock's daily performance, set up filters to find specific stocks, produce scans that find stocks meeting certain criteria, and draw trend lines that remain in place until removed by the user.

One source of free charts, courtesy of BetterTrades, can be found at charts.bettertrades.com. These can be adjusted for line or candlestick charts and can be scanned for indicators like Moving Averages and Bollinger Bands.

Many sites, like msn.com and yahoo.com, will offer ways to call up a stock's chart and check it's historical selling points.


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