How to use Finviz to Find the Best Stocks in the Strongest Industries Video Lecture | Stock Trading: A Complete Guide (English) - Business Basics

hey what's up guys Allen here with eat
sleep trade net and we are gonna be
bringing you guys a video about how to
find some stocks in strong sectors or
strong industries when a lot of the
stocks that you know in that industry
have already broken out into new highs
and you don't want to find yourself
chasing so I'm going to show you guys
how to use fin vis and how to find those
stocks that have it broken out yet so
you can get them on your watch list for
possible trade opportunities
alright guys so taking a look here
checking out aks you know if you guys
are on Twitter or any type of trading
social media then you know steel was hot
not only last week but especially into
Friday with a lot of big breakouts you
guys have heard me talking about steel
Steel's one of the main sectors that I'm
watching into this year I even took it
as far and as to say in January that
steel would double before June and I
still think that's gonna happen so we'll
see here Friday there was some major
breakouts taking a look at a KS this is
one of the main steel stocks that I've
traded a lot of times and had some good
success with it's a small cap and
usually trade some pretty good relative
volume and you can see on a Friday it is
no exception really big relative volume
nice strong candle close there above a
you know 5 85 90 or right at that
resistance level but you really don't
want to chase something like this higher
another example is X which is when we
follow as well you know it broke out to
new highs big relative volume it's a
strong chart it's definitely something
that you want to get a part of or get an
entry on but once it's this extended and
this broke out it's really just not
worth worth chasing to get an entry if
it pulls back or consolidates you know
if we get it pull back down to this 4142
area yeah that might give a a good
possible entry area with a good risk
reward but as far as everything looks
right now it's just I want to say it's
over extended it's just not worth
chasing and putting yourself in a
position where you could be upside down
instantly on your position so with that
being said there's still ways to you
know find other stocks that you could
trade that are strong in this sector but
haven't haven't broken out like this
quite yet so let's take a look at that
now so we're taking a look at fin vis
elite and I'll go ahead and leave a link
in the description down below if you
guys want to sign up for a fin visit
count and I do use the elite account
which gives you a little bit of bonuses
totally not necessary you guys can
easily get away with a free fin vis
account but if you do want an elite
count
or if you just want to finish account
which is free like I said I'll leave a
link in the description down below and
you guys can check that out
Finn visits one of my favorite scanners
to use and that's why I have the elite
version I've been using the product for
a few years now and I just kind of
wanted to support them so what we're
gonna do is we're gonna head over to the
screener go ahead and open up on the all
tab and let's go down to steel we'll
just go straight into the steel industry
and see what we can find
right here steel an iron and that's
already gonna pull up you know all the
charts that are in the steel and iron
industry and you could see you know aks
like we were talking about and a couple
other ones like frd that all same had
big high breakout moves you know ggb
breaking out to new highs and basically
what you want to do is look for good
possible trading stocks that haven't had
that big move yet they're not broken out
yet but they're in that same sector
where stocks have been breaking out and
a couple way to narrow these down is
look for companies that are that have a
earnings per share growth quarter two
quarters so that's pretty important so
right here you guys can see earnings per
share growth quarter over quarter and
doesn't matter how much but let's just
say we want it to be positive we want to
make sure that each quarter these this
steel company is increasing its earnings
per share growth and obviously this year
we wanted to also be positive as well so
we're going to go ahead and click that
and it'll reduce your list down just a
little bit and you can go even farther
to try to stick in to any category that
you want to add like for example we
could do sales growth for the past year
so let's say that we've had a positive
sales growth for the past five years so
if you got positive sales growth and
you've got positive earnings per share
growth and you are in a sector that is
strong and breaking out that is what
we're going to be looking for and the
first one that catches my eye right
the bat and that I seen before we even
went into the sales growth and their
earnings per share growth I was hoping
it would remain on this list even with
those on there and that's this one here
are Ock and you guys could just see how
it's in this little trend channel it's
near the bottom of that trend channel so
it's oversold you could see the big
relative volume that came in last time
it was down in this area and it's put in
a nice little hammer or dragonfly doji
there so you know there was some buyers
coming in when it started reaching down
to that thirty area and started getting
below that $31 area let you know that
there's buyers and it's just a good
support area it's an american us a steel
company and you know they have positive
earnings for growth and they have
positive sales growth over the past five
years so again it's nothing that's
guaranteed but it just kind of helps you
make sure you're stacking the odds in
your favor z' so going into next week
are Ock and si d are gonna be two steel
stocks that I'm adding into my steel
watch list on fidelity so just like I do
the swing trading watchlist I've shown
you guys the different watch lists that
I create for like weed stocks or for
steel stocks or for residential
construction and home builders you know
whatever might be hot at that time I'm
creating a watch list so our Ock and s
ID those are two stocks I'm gonna add
into my steel watch list that is already
including aks and X as well alright guys
so just wanted to ya show you guys how I
kind of do scans when there's breakouts
in certain industries like there was
last week and especially through
Thursday Friday with that high strength
you don't want to chase up the stocks
that are breaking out you want to find
the ones that haven't broken out
offering a good risk reward be patient
and more than likely they're gonna break
out and move higher just as well with
the rest of the industry one more thing
I want to show you guys if you are
interested in getting fen vis elite
here's one of the features that you get
and it is pretty cool you get a backtest
feature and what that does it allows you
to backtest a name any stock or any any
index
to any date you want and to to any
parameter so for example right here I
have a back test where it would by any
time the sp500 closed above the 20-day
simple moving average and it would sell
any time it would close below the 20-day
simple moving average so let's click
that back test and it shows you back
from 97 to now what your return would be
on the sp500 if you were to purchase
every time you were above the 20-day
and you sold every time you had a close
below the 20-day and you can see it's a
two hundred ninety five percent return
and I think that's pretty interesting
just to know and I don't think that
buying stocks that are above a 20-day
moving average is a solid trading
strategy but I think this right here
kind of shows you that it definitely
increases the odds in your favor of
having a trade moving your direction if
you're trading on the right side of the
20-day simple moving average so it kind
of just shows you how powerful certain
indicators can be when tracking the
market and stocks so that's one of the
benefits you get with the phen visit
leave if you guys were wondering and
there's a couple other good ones too so
yeah just make sure you guys check it
out I'll leave a link in the description
below and yeah it's free so sign up for
a free account if you decide you want to
try the elite then go ahead and give it
a shot alright guys that is gonna wrap
it up for this video thank you guys for
check him in and I hope I guys got some
benefit from this little quick fenves
how to scam video and good luck into
next week and I will see you guys later