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Ralph Nelson

The 3 Best Ways To Track Which Way Stocks Are Headed

If we all had a stock market crystal ball, we’d be millionaires. Unfortunately, the reality we all live in is one of unknowing. No matter how much research you do, no matter how closely you follow your prized stocks, there is an element of surprise each and every day on the markets.

Even stocks that have shown incredibly consistent growth, like Apple, are subject to what are known as Black Swan Events—events that are completely unprecedented and unforeseen, which weigh heavily on global economics and politics. In the last two years alone we’ve seen our example of Apple get hit by two: Trump’s trade war with China and, of course, the Coronavirus pandemic.

While no one knows the future, there are analytic technologies which can help you better understand trends and trajectories. These won’t keep you protected from world changing events—nothing will, unfortunately—but they will help you stay ahead of the competition, make informed decisions year-round and help you recover if and when things go awry.

1) Trading View

With free, cheap and pro options, Trading View is an attractive offer for beginners getting into the game and experts seeking to fine tune their portfolios. This analytic powerhouse is great at real-time scanning and filtering, giving you a better understanding of the markets as a whole as you trade day to day.

Its Technical Analysis is where it really shines, with over 150 indicators ready at your disposal. These indicators scale with your subscription options, too—with their Pro level you get access to even better indicators.

Trading View is also bolstered by an active community, which, like any internet community, has its pros and cons.

2) Chaikin Analytics

Built off the back of Marc Chaikin's history of success, Chaikin Analytics has grown into an analytics leviathan backed by editorial expertise. Their high-powered algorithms can match any other analytic service out there, but what makes them my personal favorite service is the simplicity of their design.

In lieu of complicated charts and graphs—which many analytic sites lean on—Chaikin Analytics opts for a simple rating system. If you can understand a traffic light, you can understand Chaikin: green means go, red means stop.

Chaikin is also plugged into a strong information system, giving you essential snippets or in-depth wisdom whenever you need it. On top of that, Chaikin is connected to a wide network of via the Score Priority Store. Invest, chat, analyze and so much more all in one central location. Match that with a low monthly price, a two week free trial, and you’ve got yourself a winner.

3) Meta Stock

Meta Stock is unique in its analytic power thanks to Thomson Reuters. With a database that every analytic software site should envy, Meta Stock gets you good data quickly. With that, however, comes a steeper entry point costwise. You can get three months for the price of one, but that one month is still going to cost a pretty penny.

I’d recommend Meta Stock for more advanced traders who feel they’ve maximized cheaper analytic sites.

Additionally it’s integration with actual brokerage is relatively limited, which holds it back from being as useful for the average trader as it should be.

Overall winner: Chaikin Analytics for its combination of low cost, ease of use and depth of information.

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