Chapter 8
Charting Different Time Periods
IN THIS CHAPTER
Changing a variety of charts to different time periods
Looking at hourly, daily, weekly, and monthly charts
Examining multiple time periods and closing prices
Looking at different time periods on charts is a lot easier with computing power. At a touch of a button, you can change everything. Chartists often look at different time periods to evaluate a stock, and great charting software helps with that analysis.
Using charting software, you can display differences for a selected period. The most common period for StockCharts.com clients is a daily period. (Most traders or investors check their portfolio when they get home from work, which probably makes daily charts the most popular.) When chartists refer to daily candlestick charts (see Chapter 4), each candle provides the information for the opening trade of the day, the high of the day, the low of the day, and the close of the day. Then the computer stacks these candles beside each other to create a chart. The chart may contain a year of candles (called the range), but each candle is showing the price action for one day, so the chart is called a daily chart. The period
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