How to Find Bullish Stocks Using Benzinga Pro

In this post, I will explain how I used my Benzinga Pro to find a bullish stock.  If you don’t have Benzinga Pro right now, you could sign up for a free trial here.

Step 1: Go to Benzinga Pro Calendar

Benzinga Pro Calendar Worksheet

Step 2: Select Analyst Ratings

Benzinga Pro Analyst Ratings

Step 3: Set the Calendar to the past 3 weeks

Benzinga Pro 3 weeks calendar

Step 4: Customized the Filter Section

Benzinga Pro Filter Section

Step 5: Select Rating

Then deselect all. We need a bullish stock so we will choose all the positive ratings.  In the Rating section, choose:

  • Buy
  • Market Outperform
  • Outperform
  • Overweight
  • Positive
  • Sector Outperform
  • Strong Buy
Benzinga Pro Positive Ratings

Step 6: Edit columns

We need to reduce the noise so it’s easy for us to see what is important.  In the column section, remove:

  • Time
  • Analyst Name
  • Action on Security
Benzinga Pro Edit Columns

Step 7:  Arrange Price Target

Start from the highest price. 

Benzinga Pro Price Target

Step 8:  Start browsing for stocks

Now that we eliminate some of the items we don’t need, this is the point where you will start browsing.  I pay attention to the symbol, the analyst firms such as B of A, Citigroup, Stifel, Goldman Sachs, Morgan Stanley, Barclays, as they were known for moving the stocks after the ratings. 

Check the date when they released the ratings.  This is the part where you backtest  the analyst ratings by checking the daily chart movement.

Hover the mouse to the symbol, click it and it will show you the overview of the stock.  This will show you the fundamentals.  You want to see how this stock moves after the ratings. In this stock, Benzinga Pro alerted at 6:00 AM that Goldman Sachs upgraded SHAK (Shake Shack, Inc.) to buy rating. 

Benzinga Pro Stock Overview

Step 9: Select the chart and do some technical analysis

Benzinga Pro Daily Chart Review

Notice how the stock moves to the upside after May 25th. Prior to the rating, the stock was around the level of $82 to $85 and come June 1st, it starts to test $95 – $96 level.  Also there’s a gap to be filled between $96 to $100.

Step 10:  And finally, plan the trade 

If I will trade this, I can go long here but I will wait for a minor pullback to around $86.50 – $88 level. That will be my entry point there with a stop at $84. The gap to fill is at $100 so this is a high probable trade for me. I could start scaling at around $96 with a final exit at $101.

I am not a financial advisor and even an analyst, and this is my opinion only.

Conclusion:

Trading tools like Benzinga Pro are very powerful and helpful in finding high probable trades.  As traders, we need to plan carefully, figure out the risk without exceptions and patiently wait for the right set-up and execution.  Now, it all depends on us,  the amount of hard work and determination, to bring ourselves to the next level. 

Do you want to bring your trade to the next level? 

Try Benzinga Pro and see for yourself.

14,016 thoughts on “How to Find Bullish Stocks Using Benzinga Pro”

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