How to Find the Best Stocks for Intraday Trading Today


How to Find the Best Stocks for Intraday Trading Today

Intraday trading is a form of short-term investing that involves buying and selling stocks within the same day. Intraday traders aim to profit from the price movements of stocks that are volatile and liquid. Volatility refers to how much a stock’s price changes in a given period, while liquidity refers to how easily a stock can be bought and sold without affecting its price.

But how can you find the best stocks for intraday trading today? Here are some tips and strategies to help you out.

Use a Stock Screener

A stock screener is a tool that allows you to filter stocks based on various criteria, such as price, volume, market cap, sector, industry, beta, and more. You can use a stock screener to narrow down your list of potential intraday trading candidates by applying some of the following filters:

  • Price: Look for stocks that are priced between $10 and $300 per share. Stocks that are too cheap may be risky and illiquid, while stocks that are too expensive may require a large capital and have a low percentage return.
  • Volume: Look for stocks that have a high average daily volume of at least 1 million shares. This indicates that the stock is liquid and has enough trading activity to provide opportunities for intraday traders.
  • Beta: Look for stocks that have a high beta of above 1 or below -1. Beta measures how much a stock moves relative to an index like the S&P 500. A high beta means that the stock is more volatile than the market and tends to move more in either direction.
  • Trend or Range: Look for stocks that are either trending or ranging. Trending stocks are those that move in a clear direction, either up or down, while ranging stocks are those that move within a narrow price band. You can use technical indicators such as moving averages, trendlines, and Bollinger bands to identify the trend or range of a stock.

Follow the News and Earnings


Use a Stock Screener

Another way to find the best stocks for intraday trading today is to follow the news and earnings reports of companies. News and earnings can have a significant impact on the price of a stock, especially if they are unexpected or surprising. You can use sources such as Yahoo Finance, The Wall Street Journal, CNBC, and Bloomberg to stay updated on the latest news and earnings announcements.

Some of the news and earnings events that can affect the price of a stock include:

  • Product launches, mergers and acquisitions, partnerships, lawsuits, scandals, regulatory approvals or rejections, etc.
  • Earnings releases, guidance updates, analyst ratings, dividends, stock splits, buybacks, etc.
  • Macroeconomic data, such as GDP growth, inflation, unemployment, interest rates, trade balance, etc.
  • Geopolitical events, such as wars, conflicts, elections, trade wars, sanctions, etc.

When following the news and earnings, you should look for stocks that have a strong reaction to them. You can use tools such as StockTwits, Finviz, or Trade Ideas to scan for stocks that are trending or have unusual volume or price movements due to news or earnings events.

Check Out Popular Stocks and ETFs


Follow the News and Earnings

A final way to find the best stocks for intraday trading today is to check out popular stocks and ETFs that are favored by day traders. These are stocks and ETFs that have a high volume and volatility on a consistent basis and provide ample opportunities for intraday traders.

Some of the most popular stocks and ETFs among day traders include: