If you are looking for an entry point to buy shares in an ETF or a stock, one of the ways to keep it in mind without having to watch it closely is to set a price alert. Of course, you can also do this for positions you own. I often set price alerts for stocks/ETFs I own so that I am aware of a significant drop or increase in the price of the shares. That might cause me to:
- Buy more (if it looks like short-term traders are unnecessarily punishing the shares) or to
- Sell (if some extremely bad news has appeared that may drive the shares even lower.)
If you are logged into your Fidelity Investment’s account, this can be done using these steps:
- Select the News & Research tab.
- Select Alerts
- In the “Research and Market Monitoring” section, select Price Triggers
- On the “Alert Setup” tab, enter the ticker symbol you want to monitor. For example, let’s use ETF VYM. If you press TAB the screen will show the last price for this ETF.
- In the “Event Trigger” pick the option you want to use. Most of the time I use “Drops below” or “Rises above.” If the last price is $82.00, then I might set both. The “Drops below” would be something like $79.00 ad the “Rises above” might be $85.00.
- If you want to do both, notice the option on the screen that reads: “You can also set up multiple event triggers for a single security.” You can click on that option.
You can set the alert to go to your email, as a text or as an alert to a Fidelity mobile application.