Susan Smith, Staff Reporter
Business partners John Murray (left) and Lloyd Stewart in discussion. - IAN ALLEN/STAFF PHOTOGRAPHER
"IF YOU are going to buy stocks, check the site." This is the recommendation from Sun Solutions Limited, developers of the website www.caribbeanstockcharts.com.
Established six months ago, Sun Solutions was formed by three young entrepreneurs -- John Murray, a software engineer, Lloyd Stewart a former stock broker, and Howard Martin -- who have pooled their technical expertise to establish the company at a cost which they all say is "too high to quantify."
According to the entrepreneurs, the website has been steadily boosting Jamaica's equity market with its level of sophistication. Information is available to investors on stocks traded in Jamaica and the Caribbean.
"There is a niche for technical analysis and there was a lack of it in the Jamaican market," said Director of Technical Operations, John Murray. He emphasised that a vibrant equity market is important to the economy. "We are driven by the goal to provide investors with clear objective, insightful and accurate information on the leading markets of the Caribbean."
SERVICE
Specifically, Caribbean Stock Charts provides technical charting solutions on stocks free of charge for its visitors. These charts display the trend of the stock prices, volume traded, and other indicators, namely the moving average convergent divergent (MACD) or stochastics dating back to five years.
The site gives its visitors information on the two main methodologies used to analyse stocks. These are the technical analysis which looks at the movement of stock prices and the fundamental analysis which takes into account the company's performance and background details.
Mr. Murray said technical analysis is heavily relied on in the United States of America and became popular over the last 10 years.
BENEFITS
For the lay person who is clueless about stocks, the site offers a simplified technical summary of stocks and gives suggestions on stocks to be obtained based on objective analysis. It is very user-friendly.
One of the chief benefits of logging on to Caribbean Stock Charts is that persons can create their own charts or analysis from one accessible cyber platform. Clients will also have the luxury of receiving mobile alerts from the regional and U.S. stock markets having linked with the site.
"If you put a list of stocks we can text message you on the price of the stocks if you're overseas," explained Mr. Murray. Price alerts will also be sent to your email at the end of trading as well.
The options to monitor business assignments and stock portfolios are available.
LONG-TERM PLANS
"We intend to leverage our content into cable TV," said Mr. Stewart, speaking of long-term plans. Within a year or two, Sun Solutions intends to open subscriptions to its subscribers. "Our initial one-year plan is for 1,000 subscribers but we foresee many more persons using this," said Mr. Stewart.
The subscription fees will be US$100 per annum, which they say is competitive. "Our website is one of the best," said Mr. Martin.
Breaking into the U.S., Canadian and the U.K. will be one of Sun Solutions' biggest challenges, and with the stock market emerging globally, it is ready and willing to log on.
