If you are trading a time-sensitive basket of stock, I like to use the first chart that you see. For more info, including a look at some other charts you might use, check out this article.
What should a chart reveal in the long-term?
The chart should reveal the direction of current price trends and their trendlines. A trendline is a line that shows a price change as it has increased or decreased — like the line on the following chart from my personal finance blog.
Note: a strong trendline can show that a stock has started to decline. However, a trendline is not a bullish sign. As you can see, my trendline is almost flat, so if you want to buy that stock, you need to wait until it breaks out of a downtrend or gains ground. If you like a strong trendline but are still waiting for it to break out, it might be time for a longer-term holding period.
What should a chart reveal in the time horizon?
Traders and investors look at price charts as indicators for what events in the future may occur. For example, when you trade a stock with a large moving average, it indicates that people are holding stock (or a similar index) that are likely to rise.
As a trader, you should be able to spot the first sign of an impending decline by the chart lines, as well as the overall trend line.
What should a chart show in the future?
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