Skip to main content


Forex Trading

How To Pick Stocks For Swing Trading

By 8 december, 2021No Comments

Hammerstone is also a powerful tool for traders solely focusing on news. Knowing the news as one of the first helps to get an edge in the market. The tool is mainly used by institutions and hedge funds, but they created a new product for day traders, and it is one of the fastest news-sources I have ever seen. TradingView offers free EOD stock screens with basic functionalities and delayed data. Real-time data costs extra and unfolds some additional features.

Looking closer, the %D line indicates stock A isn’t oversold, which is good. However, the two lines haven’t crossed—as you can see, %K is still below %D. If %K had crossed %D, that would show a little more upside strength.

how to screen stocks for swing trading

I want the best of the best.I only take the trades that I feel meet exactly what I am looking for. We had a two previous mini-uptrends that have occured over the course of what is a pretty significant longer term uptrend. The stock had a recent pullback to a horizontal support line. The current price also reached a upward sloping trendline as well. I love when the horizontal support and upward sloping trendlines intersect. The Bullish Harami candlestick signal occured right at this potential pivot point.

Swing Trading Setups

Once you have entered in each line, click ”Fetch Stocks!” to get your results. To see more than five results and access data from the most recent trading day, you can pay for a subscription. Biggest Stock Gainers – search for stocks that made the biggest gains today. Some of these stocks may become tomorrow’s losers while other will continue their rally.

  • Once you are in the SPY watch price action itself and forget about the market.
  • Looking closer, the %D line indicates stock A isn’t oversold, which is good.
  • If you don’t have access to a screener through your trading platform, you could use Finviz instead.
  • If a security is on an upward trend, a swing trader will “go long” and buy shares, options or futures contracts of that security.
  • We would typically qualify a growth stock as one that grows quarter over quarter at least 20%.
  • Trade management and exiting, on the other hand, should always be an exact science.

The earlier requirement states that the 50 day moving average is above the 200 day moving average, but in some cases, the moving average is headed down. Sideways action that resists giving up much ground is preferred. High Relative Strength Ratings are a key statistic for limiting your Promissory Note universe to the best prospects. And volume gives you confirmation that institutions are accumulating shares. Check out this guide to learn how to scan for active low float stocks daily. Check out this step-by-step guide to learn how to find the best opportunities every single day.

What Are The Best Swing Trading Indicators?

If you get the wrong entry then you can be waiting awhile for them to break out. Watch our video on how to swing trade penny stocks the right way. Stock screeners can help many investors with their trading strategies. A trading strategy is set of rules that an investor sets. Any trade entry and exit must meet the rules in order to complete.

how to screen stocks for swing trading

Due to the sheer mass of trade setups, we can trade with a minimal risk and still reap the same rewards as with daytrading. The Charles Schwab Corporation provides a full range of brokerage, banking and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. , offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank , provides deposit and lending services and products. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons.

Technical studies, more advanced sales and revenue data and layout customization is also available through Finviz’s paid account options. Traders can also access a few of the platform’s more advanced features by registering with their email account. This is a great guide to swing trading; simple to understand;easy to obey. On Swing Trading, I’ve been studying for the past few weeks on using STOCH-RSI on this type of trading. Entering when K-line is below 20 value and cross above D-line. Exiting when K-line value at % range, or when D-line is about to cross K-line.

The Daily Routine Of A Swing Trader

The daily minimum you select is arbitrary, but a reasonable example is 500,000 shares per day. You can exit high volume stocks quickly and with less risk of a loss from the bid-ask spread because stocks that are more liquid generally exhibit lower bid-ask spreads. Recognizing a bad trade or potential loss requires discipline and is a key tent of swing trading, which highlights the ability to quickly exit a trade. swing trade scanner It represents a price level or area above the current market price where selling pressure may overcome buying pressure, causing the price to turn back down against an uptrend. In this case a swing trader could enter a sell position on the bounce off the resistance level, placing a stop loss above the resistance line. As soon as a viable trade has been found and entered, traders begin to look for an exit.

Many swing traders like to use Fibonacci extensions, simple resistance levels or price by volume. Ideally, this is done before the trade has even been placed, but a lot will often depend on the day’s trading. Moreover, adjustments may need to be made later, depending on future trading.

As a swing trader, getting out before that pullback is prudent, as that money can then be put into other trades instead of watching your profits likely evaporate. If you’re swing trading penny stocks then looking at the stocks that trade above a dollar may be the safest bet to get a profit. Find a place you trust if you’re looking for penny stock recommendations. You can always ask us in our trade room what we think.

how to screen stocks for swing trading

Let’s take a look at how you can use these scanners to find different swing trading setups. A support level indicates a price level or area on the chart below the current market price where buying is strong enough to overcome selling pressure. As a result, a decline in price is halted and price turns back up again. A stock swing trader would look to enter a buy trade on the bounce off the support line, placing a stop loss below the support line. Trade 1 offers a risk of 5% with reasonable potential for a 15% gain. Based on how the stock has moved in the past, following prior entries that a stock price has typically moved about 15% before experiencing a significant pullback.

How To Find Momentum Stocks

If you’re looking for a one-stop shop for all the information needed to buy and sell stocks, look no further than Benzinga Pro. The comprehensive, all-in-one platform provides you with real-time charting and a massive range of indicators, screening criteria and alert options. Active traders in particular will love Benzinga Pro’s full calendar suite, which includes information on upcoming earnings reports, revenue announcements and other events. If you’re planning on taking advantage of the current market volatility, a stock screener app can be an essential tool.

Swing Trading Stock Ideas

I also look at charts for all the major industry groups to see which ones are strong, which are weak, and which ones have potential to make major moves. When the RSI gets above 70 the VIX is overbought and the market is oversold. When the RSI gets below 30 the VIX is oversold and the market is overbought. The Volatility Index can be used to time your trades to the market. It is mainly used to trade the S&P Futures and Spiders , but you can use it to identify when the overall market (S&P 500) is likely to reverse.

Trade Ideas Pro provides its users with the best day trading scanner available right now. Prices then consolidate or correct in price to the 20 Forex news period moving average. The primary site for pre-market index futures data, as well as market-related news throughout the day, is

On the NASDAQ, you’ll find even more listings, with 3,800 corporations offering shares of stock. Fidelity offers a stock screener that lets you explore the publicly traded stocks universe based on about 140 criteria and customizable filters. Unfortunately, Fidelity lately decided to make that screener only available to Fidelity Customer and those who are using the 30-day guest access. Let’s say you are using Trade Ideas as your favorite day trading stock screener. Trade Ideas notifies you when a move happens right now.

Author: Kenneth Kiesnoski