Trading for Beginners: Analyzing Stock Charts

Trading for Beginners: Analyzing Stock Charts

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If you’re thinking of taking the plunge and trading in the stock market, there are a few things you should know. There is always risk and the market can be volatile and unpredictable. However, armed with some knowledge and careful thinking, you may do well. Information is your friend when playing the market. A great source of info is a stock chart. But, you must know how to analyze them. Here are some of the basics.

Start With the Basics on a Simple Chart

If you have no previous experience, even the best stock charts will be of little use. A great place for a beginner to start is Google Finance. You can search for the ticker of a specific company and it will display a simplified chart. The chart will show the name of the company as well as its stock ticker symbol. You will also see the current price in U.S. dollars of a single share of stock. This is what it would cost to buy, or what you would get if you sold.

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Fluctuations

The stock market is open Monday through Friday from 9:30 a.m. to 4:00 p.m. During that time, the trading transpires. Trading is the buying and selling of stocks. The prices will fluctuate as per supply and demand. Beneath the price of the stock, you will see a number and either a down or up arrow. This shows how the price has changed since the market opened. Up for an increase, down for a decrease. 

The Trend Line

You will also see a graph that charts fluctuations over a given period of time. You can choose to display the changes over one day, five days, six months, or one year. Also, you can choose year-to-date which will show the changes from the beginning of the current year to today. By viewing the trend line, you can get a feel for how the it’s been faring in the market for the chosen period of time. Analysts use this to make predictions about how it will perform in the future. It’s still largely guesswork, but they are educated guesses. 

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Important Basic Terms

There are some basic terms used to refer to components of a stock chart that are important to know. 

  • Open: The price of the stock when the market opened that morning.
  • High: The highest price the stock reached during a day of trading.
  • Low: The lowest price the stock dropped to.
  • Close: The price of the stock when the market closed.

There are more advanced terms as well but it’s a good idea to familiarize yourself and get comfortable with these before moving on. Analyzing stocks can be complex and you want to take it a bit at a time.

Final Thoughts

Playing the stock market can be fun and rewarding. However, it also involves considerable risk. Arm yourself with current information by using stock charts. Use these basics first. Learning the ins and outs of trading lasts a lifetime.

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Trading for Beginners: Analyzing Stock Charts

Customer Service for Millennials: What Your Business Needs

Featured image by Nastya_gepp on Pixabay

It’s crucial that customer service departments and their operations are properly geared towards the audiences that use them. One of the largest generations currently is the Millennials. According to MSCI, Millennials, born between the early 1980s and mid-1990s, made up 23% of the global population in 2020. That is 1.8 billion people overall.

So, to ensure your business properly caters to Millennials, global businesses must strive to understand their preferences in terms of marketing, purchase experience, and customer service expectations. In this guide, we explore these preferences, offering insights on how companies can gear their customer service offerings towards them.

Customer Service Everywhere

Whereas older generational cohorts might be content with email and phone support options, Millennials expect more. Smartphone natives, their customer service preferences are just as boundless. As such, they expect a wide array of customer service channels to choose from. They desire a 360-degree experience.

However, alongside phone, email, and contact forms, social media platforms like Facebook and Twitter should be available for smaller-scale customer service requests. Live chat and video chat should be available via company websites. And, in-depth knowledge bases should also be on offer to customers who want to solve their issues without needing to spend time talking to representatives.

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Speedy Service

Millennials (just like Gen Z) always want immediate customer service at their fingertips. Indeed, a survey by Desk.com found that 25% of Millennials expect companies to respond to their social media customer service requests within just 10 minutes.

As a result, companies need to be able to offer 24/7 care. Thankfully, this once lofty aim is now possible thanks to new technology such as social media customer service, knowledgebase, and chat-bots. These forms of service must be administered effectively and backed by expert technical support to ensure systems are always on.

Personal Service

Understanding of the opportunities offered by technology and experienced in the personalization found in the ad space, Millennials, alongside the cohort nipping at their heels, Gen Z, want to feel special. They want to feel like brands know and understand them. So, customer service departments must adapt accordingly.

This can be done by utilizing smart email automation tools that allow millennial leads to be segmented and targeted in an optimized fashion. It can also be a good idea to feed in customer data sources from sales and marketing into customer service, utilizing data from multiple touchpoints to inform better, more targeted approaches.

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Post-Purchase Matters

With so much competition and such research-savvy customers happy to drop a brand at a moment’s notice, post-purchase care is more important than ever. If a business drops the ball the retention can become an impossible goal.

So, to make sure Millennial customers feel they matter and do not jump ship, customer service departments should aim to provide the best quality service possible. They must analyze poor interactions and reviews and feed this information into the ongoing development cycles of approaches and systems.

Visual Service

Millennials want to have plenty of customer service information at hand. However, they are used to consuming content in visual form such as images and video. These forms of information can be more easily and rapidly understood. Thus, companies should adapt to make their communications more easily digestible and more effective in kind.

How will you cater for Millennials in your business? Join the conversation in the comments section below.

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