A Stock Screener is a tool that gives you the ability to filter stocks based on certain criteria of choice. For example, you may decide you want to review all the stocks that gained volume in any given day.
This is an important stock investing step, especially when considering what stocks to invest in. Because there are over 8,000 stocks listed in the various stock exchanges, you cannot possible review each one of them.
Your best bet? - stock screeners!
Based on the specific criteria selected, stock screener tools narrow down the stock results from 8000+ to just the stocks that meet your criteria.
You can then analyze only these stocks - and save yourself a long night!
Below we provide you with a listing of both technical and fundamental stock screeners that you can use.
Let's start with the technical stock screeners.
Note: As we go through this article, we will highlight some of the differences. Hopefully this helps you select the tool which is the right for you.
Technical Stock Screeners
Stockcharts: This is perhaps one of the more most popular stock screener tools used by investors who prefer technical analysis as part of their stock investing strategy.
We at Beginners Stock Investing Guide use it religiously!
Stockcharts provides predefined scans for technical indicators and shows candlestick technical patterns.
The free version is pretty robust, but if you are looking for more powerful features, consider signing up for their membership. The paid version will cost you anywhere from $15 to $35 a month.
Stockfetcher: This is an extremely well organized website with pre-built scans and also backtesting tools. The beauty of StockFetcher is that it has a text-based filtering system. In other words, you can use plain-english phrases to build your custom stock screens.
A huge disadvantage is that the free version has very limited capabilities. A scan will display only 5 stocks matching your criteria.
INO screener: This is another useful tool that you can use to analyze stocks. While this is not your typical stock screener; it is more of an analyzer - you enter a stock quote and the tool analyzes your stock and provides you with information like, trend analysis and others.
One of INO's great features is Smart Scan. It is not free - BUT you can use it to quickly find winning trades in stocks, futures, mutual funds, precious metals and foreign exchange. This tools helps you quickly identify charting patterns that are primed for large moves.
Best of all INO has over 24 different charting patterns, that allow you to choose trend directions or trending strengths that best fits your trading style.
Unfortunately, the in-depth analyzer is not free. There is a monthly subscription fee of $59.
Finwiz: This is another great tool to use. It allows you to search based on fundamentals, technicals, and even combination of the two.
In addition you can screen using certain descriptors like analyst recommendations, dividend yields, and indexes the stock is traded in.
We use this tool extensively!
Best of all - This tool is free!
Fundamental Stock Screeners
Probably the stock screener tool used by most fundamental traders will be the one provided by Yahoo Finance. Yahoo offers two kinds of tools:
The Basic Yahoo screener (HTML version) which allows investors to sort shares according to major indicators like P/E, P/B, PEG, Div Yield, estimated EPS etc.
In addition Yahoo offers the Advanced Yahoo screener which allows investors to add more details to the basic Yahoo screener like RoA, RoE, insiders who have stock in the company and institutions with stock held and much more.
Of course there are several preset screens for criteria like value, and growth based on whether the company is small, mid or large cap.
The advanced Yahoo tool is Java based.
In my opinion it is one of the best fundamental tool available for free!
MSN has a screener tool which provides you with only the basic indicators without numeric range. Possible values are either "low" or "high".
There is also MSN Stock power searches which has preset indicators and has proven to be very useful.
Due to its simplicity, this is a tool we at Beginners Stock Investing Guide frequently use.
Morningstar boasts a free tool that has options like Stock Selector, ETF or Fund screener.
The Nasdaq site has a tool that allows you to scan major US stock markets.
Barchart is website with screening tools that I regularly use. This website has some preset screens that you can review extensively.
If you sign up (for free), you also have an advanced screener that makes finding Stocks, ETFs (Exchange Traded Funds), Indices, Mutual Funds, Money Market Funds, or Forex contracts that match your trading objectives easy.
These tools are a start! Always do your research.
Remember - Dig deeper before trading any stock