Hello, friends welcome to another fresh article of ‘Wealthsetup.com”. Here in this article, I guide you on how to read stock charts for technical analysis of stocks.
Technical analysis is very important for stock market trading.
Therefore why I decided to explain how to read stock charts in the proper way.
Technical analysis helps you to identify the correct entry and exit levels of stocks.
To do technical analysis in a proper way you need an EOD stock chart.
Here I will also suggest you the best free EOD stock charts which help you to do the technical analysis.
Before start, you need to understand What is EOD stock chart.
What Is EOD Charts?
End Of Day chart (EOD charts) shows the whole day performance of the stock.
It shows the opening and closing price of the stock on the chart.
It will help swing traders and investors to make investment decisions.
Which is very important to understand for a trader/investor.
The EOD chart is mostly used by Swing traders and investors.
By analyzing the EOD Stock chart, Swing traders/Investors can understand the trend of the stocks.
Now let’s understand which are the best free EOD stock charts.
Free Stock Charts For Technical analysis.
Here I will suggest 3 EOD stocks which help you with technical analysis.
Most of the charts I suggested in this article are work in all markets.
So let’s start with my favorite chart.
Investing.com providing a free EOD chart and It also provides you live chart of stocks and commodities.
Most of the professional trader like Mr. Nitin Bhatia is also using Investing.com chart for technical analysis.
Chartink.com is my second favorite online charting software.
It’s also providing an EOD chart along with many indicators and tools.
It’s very easy to use and understand.
By using Chartink.com you can do technical analysis very well.
ChartNexus is an amazing software, which works offline.
You just need to update the data once a day (After Market Close).
There is no need for an internet connection to use this charting software.
I have also using ChartNexus for technical analysis.
It’s very easy to use and it’s coming with amazing features and popular indicators.
This charting software provides readymade support & resistance of stock.
Which very helpful for an investment decision.
Let me know which charting software you are going to use, please comment in the comment box, It helps me to serve you better.
How To Read Stock Charts?
Every beginner entering the stock market must be well-known about the stock chart.
Therefore why I decided to explain how to read stock charts for profit full trading.
Stock charts contain a wealth of essential information about action on the stock market.
Every individual stock has the individual charts.
Which shows you the opening and closing prices of stocks, along with the net change in prices.
It will also show the highs and lows of the price, and the volume of stocks traded.
Traditionally investors would look up stocks in tables in financial newspapers.
But now it turns into the instant and detailed graphical charts easily accessible online.
You need to learn to read both types of charts so you can always access the crucial information.
The stock chart reading is most imported for every trader Some professional traders believe that the stock chart contains the fundamentals of stocks.
And the said if your able to read stock charts in the proper manner then you no need to do any fundamental analysis of the stock.
I hope now you understand how to read stock charts for technical analysis. If anyone has any queries or suggestion please ask in the comment box.Gashik