Heckyl Technologies, a leading news sentiment and market data analytics firm, has conducted a study to highlight how a trader can use sentiment scores to predict impending stock price movement. We have analyzed news sentiment data for 246 Canadian companies listed on Toronto Stock Exchange (TSX) from January 2016 to July 2016. On numerous occasions, our sentiment score has acted as a leading indicator for the share price movement of 213 companies or 87% of the total sample size.
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Finding actionable information ahead of others is getting tougher with each passing day. Today, the market captures new information at incredibly high speed. As a result, new updates get factored in stock prices almost instantly, leaving little or no scope for individual traders to tap the opportunities. So how can a trader spot new opportunities in a fast paced markets? Is there any way out?