There is often a dire need to have a tool at hand that can provide predictions on what impact a particular news can have on the stock prices and at the same time alert you about such developments long before they are bound to happen. No we aren’t talking about Nostradamus here; telling you about what exactly is going to happen, rather it simply gives in its tip on the analyses based on various factors.
StockMood is the name of a top analyst and trader amalgamated into one platform, analyzing all the information from various articles and news and then quantifying the retrieved information in a way that you can understand better. in their own words:
Each article is individually ingested, and its sentiment assessed by natural language processing models. While the models aren’t perfect, users can correct the sentiment rating produced by the system.
StockMood uses Moods to let the user now how the market is shaping up for the company you have an eye for. It uses good and bad moods to let you know what news has a good impact on the stocks or were they bad. The greater number of times any news impacts the stocks the stronger the moods get.
So what’s the catch here? Once the mood and values reach a particular point, StockMood issues a Sentiment Alert; the purpose of which is to indicate a high movement over the next few days. It uses emoticons, as well as graphs to clarify the current trend for stock in the market of the company of your choice. As StockMood puts it:
Sentiment Alerts come in two flavors: High Optimism Alerts, and High Pessimism Alerts. These Alerts suggest that a stock may be at a peak of optimism or a peak of pessimism, respectively. Our statistical analyses have shown that, at the time of an High Optimism or High Pessimism Alert, trading in the opposite direction of the news can provide significant edge.
StockMood lets you keep a check on any and every company whose stocks you like to watch by letting users create a portfolio and a watch-list for industries. And your portfolio provides you with every information, from current stock price to sentiments, etc.
What StockMood actually do is become an eye over stock rates of various industries and do the job of analysis without getting you in the procedure. Sounds pretty helpful to and easy, as I am quite a layman at stock market and the entire game it is.