How to find the right stocks for swing trading? (Very new to the market and need guidance.)
I am very new to the stock market and my knowledge mostly comes from what I have read recently along with some basics and a bit of technical analysis.
I understand the intuition behind about 15 candlestick patterns including Marubozu Doji Spinning Tops Hammer Hanging Man Shooting Star Bullish and Bearish Engulfing Piercing Pattern Dark Cloud Cover Bullish and Bearish Harami Morning Star and Evening Star.
Apart from these I use RSI where I look for oversold levels to buy and consider selling when RSI goes above 70 indicating overbought conditions. I also try to identify support and resistance levels visually and some platforms help by showing these levels. I do not fully understand R1 to R3 and S1 to S3 yet but I have a rough idea.
I also look at MACD and I have a basic understanding of Bollinger Bands but I have not really used them yet since I am new and do not have enough time to experiment. I do not do intraday trading and instead I aim to hold positions for a few days up to one or two weeks before closing them.
The main problem I face is that I rarely find candlestick patterns that clearly match the ones I have learned. Since these patterns are my primary signal I often feel unsure about entering trades. I want advice on how to research stocks and what type of stocks are more likely to show such patterns. I am also unsure whether I should learn more charts or indicators to find better opportunities.
My biggest question is how to research the market effectively since there are too many stocks. Many are rising while the ones that are falling are what I tend to notice but I cannot confidently say they are in a downtrend or suitable for investment and I still struggle to find clear patterns to rely on.
Thank you for your time
I extend my warmest regards.