The Finviz stock screener is currently regarded as the best by most traders. Despite its popularity, some traders still don’t know how to use Finviz stock screener to their advantage. The tool provides traders with a lot of information about stocks.
The usefulness of the tool makes it essential that you know more about it. Here, we will discuss how to use Finviz stock screener properly.
What Is Finviz Stock Screener?
A stock screener is a tool that searches through a wide array of stock data and churns out a list of stocks that match the criteria inserted by the trader. Stock screeners allow to search for stocks according to category.
Finviz is an acronym for ‘Financial Visualization.’ The Finviz stock screener is one of the largest and most widely used in the world. Finviz allows people to search for specific stocks according to certain criteria. You can search for stocks based on their market caps, industry, exchanges they are listed on, country, P/E, and a wide range of other options.
You can search for stocks on Finviz based on the following;
Descriptive: the descriptive criteria on Finviz include options such as average data, IPO date, dividend yield, market cap, sector, and more.
Fundamental: the fundamental criteria covers areas such as P/E ratio, dividend payout ratio, PEG ratio, etc.
Technical information: the technical criteria churns out stocks based on information such as 200-day moving average, 52-week high/low, RSI, and other technical analysis terms.
Note that you’re getting quotes delayed 15 minutes for NASDAQ and 20 minutes for NYSE and AMEX.
How To Use Finviz Stock Screener
Finviz.com is one of the easiest stock screeners you can use. They have a wide range of criteria available, which makes it easy to narrow down the stocks you are searching for. Although it may take a while for the first time user. Here is a guide on how to use Finviz to get the best results.
Step One: Go to Finviz Screener
The first step to using Finviz is to visit their homepage and click on the ‘screener’ tab. You can find the ‘Screener’ tab at the top page of the website. On the lower section, you’ll find the latest insider trading.
Step Two: Select Stock Criteria
After navigating to the screener section of their website, you will need to select the criteria for your stocks. You can choose descriptive, fundamental, or technical measures. Finviz also allows users to choose all three criteria which will display all the screening options available. With fundamental filters, you can choose stocks based on EPS growth grate and other financial ratios. Technical filters are based on price, recent performance, etc.
You can select the different criteria available. Some of the most popular standards include sector, exchange, market cap, dividend yield, P/E, Target Price, Country, Industry, IPO date, Relative Volume, and more.
The overview offered by Finviz gives you the overall details of a stock. However, you can choose to see particular information such as the valuation of the stock, ownership, financial, performance, technical data, charts, tickers, basic, TA, stats, and snapshot.
After selecting your criteria, Finviz will proceed to showcase a list of stocks that fit what you are searching for. Having a few stocks to analyze is better than the thousands available to look into.
Step Three: Analyze Search Results
The final step is to digest the results from the search. You can pick the stocks that fit what you are looking for and go from there. If you are looking to invest in a computer, we advise that you have some understanding of what they do, their business model, economic barriers, and other crucial information.
Making sense of the market is never easy. After all, there are tens of thousands of securities one could trade. Who has time to get intimate with all of them? In this finviz review, you are going to learn exactly how to use finviz to find the best stocks to trade!
Finviz.com Review – Is It Worth It?
Trading has become a game of speed, a competition on who can act on new information the fastest. Traders who make use of tools like stock screeners and alerts allow themselves to process information and organize thoughts quicker. There are plenty of stock screeners to chose from, but I prefer using finviz.com.
It’s a web-based platform, and free to use. Some of its most useful features include quotes, charts, screening, and top insider trading.
However, if you register for free you’ll unlock more features like customizing layouts, screener presets, and creating a portfolio. If you want to upgrade your Finviz experience, join thousands of traders in the paid version called FINVIZ*Elite. It features real-time quotes, advanced visualizations, backtesting, and much more. Also, it has fundamental charts, and the ability to set email alerts, as well as, all the features in the registered version. Premium features, real-time quotes, more insider info, and other advanced trading functions will allow a trader to get the best out of this screener.
Now, a lot of useful information can be picked up just from the home page. For example, at the top, you’ll see how the major indices are doing. Below that, are the largest gainers and losers on the day. If you look to the right, you’ll see a heat map, the giant red in AMZN, AAPL, GOOGL, and FB tells me that the NASDAQ and tech are weak. Below the heat map is a list of stocks that have a change or something.
You can catch up to speed on insider trading and the market’s daily activity from the home page.
Using Finviz For Idea Generation
Day-traders need volatility more than anything if they want to obtain money in the stock market and in this finviz review I want to point out exactly how to use the stock screener to lock on to good trade ideas. The typical trading day starts hours before the market opens. Day-traders spend their pre-market time reading morning research reports. Of course, they are also looking at the pre-market movers. If a stock is moving in the pre-market, there is a good chance its because of news or a corporate event like an earnings release.
The Top Gainers & Top Losers signals on the home page are great for day-traders looking for trading fast-moving stocks.
You can get into greater detail by switching to the top gainers’ signal and viewing a snapshot.
Here we can see a chart of Therapix Biosciences Ltd. (NASD: TPRX) along with key data about its fundamentals and how it trades. For example, we can see that the average trading volume is 288K shares, but on this day the stock traded more than 788K. The stock jumps to 52-week highs on above-average trading volume, a healthy sign for the bulls.
Now if you look at the headlines, you’ll see that it is involved in medical cannabis, a fast-growing sector in the economy. Scroll further down, and you’ll see that the company signed an LOI to be acquired by FSD Pharma Inc. (OTC: FSDDF) on October 22.
What should the stock price of Therapix be right now according to the terms of the deal? Will investors approve the deal?
These are the types of questions an advanced trader might have. On the other hand, some may ignore the reports and primarily focus on the price action. They might be asking questions like– Is the stock overbought here or does it have more room to run?
Using Finviz To Find Day Trades
Day traders like to focus on stocks that are making significant moves on above-average trading volume, and this one fits the bill. You’ll be able to create a watchlist easily if you scroll through the top gainers and losers. For example, there is usually a second-day trade which can be made. Check out TPRX the following day.
More Ways You Can Use Finviz To Generate Day Trading Ideas
For the most part, day traders focus on stocks that are in reports or are experiencing above-average volatility or change. Two of the most popular day trading strategies is trend trading and reversal trading. Trend traders go with the momentum, while reversal traders go against it.
For example, if a stock is gapping up higher, a momentum trader will buy the stock with the idea that it will continue to trend higher. On the other hand, the contrarian or reversal trader will short stocks that are trending higher and buy stocks that are selling off.
When a company issues a press release, it is presenting new information to the market. That said, traders are trying to decipher those reports in real-time and what its impact is on the stock price.
With finviz.com, you can do quick scans for stocks that could be poised for big moves so you can get earnings at an early time with your trading.
Jones Energy, Inc. (NYSE: JONE) announced after the close on Nov 6 that it appointed two new independent directors to the company. This was viewed as bullish because the company has been struggling and maybe some new blood can shake things up.
The following day, the stock spiked to the upside.
One of the worst-performing stocks on the year, the bounce in Jones Energy stock could imply that more positive catalysts are on the way.
Regardless, the company had a 21% short interest. In other words, 21% of the stock float has been loaned out and shorted. Generally, when a heavily shorted stock has a positive catalyst, it creates a “short squeeze.”
How To Create A Short Squeeze Scan With Finviz
A short squeeze occurs when the shorts are forced to cover their position, adding further buying pressure to the stock at the current time.
The beauty of finviz.com is that it allows you to create watchlists. For example, here is one that highlights stocks that have high short interest:
- Float Short: Over 15%
- Average Volume: Over 100k
- Price: Over $2
- Institutional Ownership: Under 50%
You even have the option to sort out stocks that have had reports over the last 24 hours time.
Do this in the pre-market, and you’ll have a solid list of short-squeeze candidates for the day.
Finviz is a powerful and affordable tool that investors and traders can use to make more informed decisions. It has features that allow you to sort out stocks by its financials, technicals, valuation, and much more. You can also get insider info, idea generation, do backtesting, etc. Note that backtesting is an advanced option that’s available on the premium version features.
But whether you choose the free or premium version, Finviz.com is excellent for creating watchlists and getting caught up with the day’s action. Check it out for free and see for yourself.
Finviz Stock Screener: Final Thoughts
The Finviz stock screener is one of the most widely used stock screeners by traders and investors due to the features it provides. If you’re ready to know more about stock screeners, you should sign up for Stock Dork Alerts. We offer a steady stream of stock market reports and analysis that will help keep you informed on everything happening in the world of Wall Street. Plus, our reports are written in plain English, so they’re easy to understand. After just a few weeks reading Dork Alerts, you’ll sound like the smartest guy at the water cooler. Sign up today and get a jump on the New Year with our 2020 Growth Stock Guide, it’s yours free when you join. Click here to join and claim your free copy now.