We are constantly looking for ways to analyze stock prices.
There are two ways to pull stock quotes into a readable and analyzable format. We've documented steps on how that can be done through Microsoft Excel or Google Sheets. There are major pros and cons with using either. For example, with Excel you don't need to be connected to an internet browser, but the functionality is limited and bulky. The blue bars are an eye sore. In Google Sheets, you'll need to open up a browser. But, at least it is nice and clean.
What if you had a way to combine the best of both Excel and Google Sheets worlds and increase functionality. Just a couple weeks ago, a friend of mine introduced me to an excel plug-in called MarketXLS. Is is a software that is directly downloadable instantly over the web. It pulls quotes into your Excel sheet using formulas that pull real-time quotes seamlessly.
One of the most useful and used formula is the "=ask("TICKER")". Simply type in =ask("WFM") and it will pull in the ask price instantly.
One of the best things about marketXLS is the fact that you can pull in historical stock data. We are constantly looking for ways to analyze stock prices and compare them to 52-week lows or just looking at technical trends. The software pulls reliable data from Quotemedia and can provide minute by minute data updates.
What if you had a way to combine the best of both Excel and Google Sheets worlds and increase functionality. MarketXLS does just that.
If I was doing technical analysis, MarketXLS
provides a number of indicators and analysis that would be extremely helpful. Personally, there are just too many for me to really grasp. However, you might find use in them if you are looking to do find a hammer pattern or a gravestone doji.
Personally, I prefer fundamental analysis and stock screening tool. MarketXLS is able to pull in actual income statements, balance sheets, and cash flows. This is especially important when you are analyzing how much a company is returning on its tangible assets. Being able to pull these directly into your excel without having to visit the SEC website is definitely a time saver. Right now it is able to pull in three years, however it would be nice if it could pull in five years of data.
I want to point out that under the "Utilities" tab you can pull in dividend history information, which is really cool. It is one less step to having to pull information from a browser. I literally place my mouse on a cell with the stock ticker and click on "Dividend History" and all of that dividend history gets pulled in to my Excel like magic.
How do you screen for stocks or find stocks to buy?
MarketXLS allows you to screen stocks based on cash flow ratios, balance sheet items, profitability, gross margin, and even more things including return by period.
Note that the above is a real review of the product paid for by our sponsored partner.
Labels: Pro Excel Tips