Yahoo! Finance, Robinhood and other free services offer basic price alerts that tell you when a stock in your portfolio or watch list has a big change, up or down, on any given day. This is a useful feature that keeps you informed of large swings in the market and your particular holdings. Sometimes you want to know when a specific stock reaches a specific price. In order to do this, the traditional brokerages like E*Trade, Ally, or TD Ameritrade offer much better alerts.
In this case I have found an interesting stock, The Container Store (TCS). From the image below, you can tell from the previous year that this stock does not seem to be climbing in the long run but it does have some volatility. Stocks that jump around a lot offer profitable opportunities. TCS tends to fall to around $4 and then rises to between $5.50 and $6 per share every few months. If I can buy at $4 and sell at $5.50 that is a 38% increase and as good as anyone can hope do to in the market!
Once you find a stock like this (TCS is currently the only one I monitor) you can search for it within your brokerage’s dashboard. Determine a price you want to be alerted about and set the alert. It’s a simple process that the traditional brokerage with all their fees can afford to offer. In this case, I’m using E*Trade because that is the brokerage I primarily use; the others are similar.
Right now I can’t locate a free service that offers an equivalent benefit. Yahoo! Finance and Google Finance claim to be working on a free service but neither is available as I write this post. Yahoo! used to, but disabled it in 2017 and has not put it back up.
Thanks for reading and happy trading!!
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