Searching for penny stocks to buy can be very frustrated and exhausted. Yet, if you’re doing day-trading, it’s a must that you stay active in your research.
Searching for penny stocks to buy without the help of any software can be even discouraging. It’s not an easy thing to do and you can also put your money in danger.
Luckily, you don’t have to go through this without a helping hand, unless you don’t want any help. There are so many stock screeners that can help you to choose the right stock according to your financial standing.
What’s a stock screener?
Before all, let’s put a definition to the name “Stock screener.”
It’s a tool used to find stocks that meet an investor’s trading criteria. It can be used for technical analysis as well as fundamental analysis.
Investopedia has a longer definition than mine which states that a stock screener is “A tool that investors and traders can use to filter stocks based on user-defined metrics. Stock screeners are offered on many websites and trading platforms, and they allow users to select trading instruments that fit a certain profile set of criteria.”
If you’re serious about trading you should consider using a stock screener. Not only it will save you time from your search, it will also ensure that you’re picking stocks within your financial status.
I know time is very tight for you, for this reason I’ve compiled a list of 7 stock screeners that you may be interested in. Let’s move on to the list!
Finviz.com is a great stock screener. Many penny stock beginners prefer to use it instead of the others because it’s very user friendly. You can use it for either technical or fundamental analyst; it will provide you accurate information every time.
The most important aspect of this screener is that it is totally free of charge. You can save this money for something else, maybe to buy some more shares.
When you’re on the home screen you will be able to see stocks that are top winners as well as the top losers. It will also alert you of those that have an unusual high volume.
2- Google Finance
Google Finance is not difficult to use but it has a pretty plain look, at least in my opinion. Of course we’re not looking for looks, but we want to feel like we’re in the trading market when we’re using a screener since its a factor of that.
It’s also a free tool to anyone just like the Google search engine is free. Its technical filters are minimal, almost none of that. But you can also use it to conduct your search and it should be able to help you.
3- Uncle Stock Screener
Uncle Stock Screener will enable you to create your watch list in a short period of time. It’s not difficult to use and it allows you to see full stock’s symbols as you’re typing a symbol. That gives you some ideas of other stocks that you did not know.
You will be able to analyze stocks through different parameters, such as their graphs, volumes, and and price.
You can use it as a fundamental analysis tool; it can provide you some In-depth overview of many financial ratios for the stock you’re looking for. Overall, it’s a very good tool for your search before you trade.
ChartMill was founded in 2008, not long ago. With this screener you can look up many charts at once so that you can choose the one that you want to explore more. It allows you to create your watch list to use at a later time.
It does not look complicated as they know we don’t have time for that. Pretty simple tool which can help you find penny stocks to buy as well as blue chip stocks.
Morningstar has a basic screener and a premium one. The basic screener is free, but it does not have all the features that you would expect to find. If you’re not looking for anything fancy, I would say go for this one since it’s pretty easy to use and free.
But if you want want to use all of their features your best bet will be to pay for their primary version. The primary one provides you with more data to conduct your research.
StockFetcher is one of the screeners that traders like to use because it gives them more freedom to what they can do with it. Like most screeners, there’s a free version and a paid one.
When using the free one you can only see up to five stocks in your table. The paid one gives more access to your search result.
You might need to educate yourself about this screener first in order for you to have a good understanding of it. It’s different in the way you can use it than the others. Their forum can be very helpful to you if you need assistance.
MarketWatch provides very basic features to conduct screenings. I think it’s better for penny stock traders because we do day-trading and not looking to hold a stock long.
If you’re looking for more advanced features to conduct your screenings, MarketWatch may not be the right choice for you.
It’s a must that we conduct our research in order to find the right penny stocks to buy. A stock screener should be a tool that you use through this process.
Not only it will save you time, it will also ensure that you’re picking the right stock according to what you’re looking for.
Are you currently using a stock’s screener?
If the answer is YES, which one are you using? If your answer is NO, why not?
Please share with us in the comment section.