U.S. Patent and Trademark Office awards patent for moomoo’s charting tools
SINGAPORE, July 25, 2023 /PRNewswire/ — A recent survey on “Singapore Investors’ Financial Resilience” sponsored by Moomoo Financial Singapore Pte. Ltd. (“Moomoo Singapore”) revealed that savvy investors (8.3%) used advanced financial technology as an essential part of their investment process.
This comes as the moomoo app was awarded a patent for its cutting-edge drawing and customization charts by the U.S. Patent and Trademark Office. Moomoo’s line drawing tool is a technical analysis tool that allows technical traders to track movements of their target stocks and discover market trends.
Mr Gavin Chia, CEO of Moomoo Singapore, said: “This patent recognises Moomoo’s constant quest to provide our clients with the necessary tools to help them in their trading journeys. Technology is at the core of everything we do, and our tech-driven capabilities will continue to be the unique proposition for our clients.”
The patented charting tools allow users to draw lines and shapes on charts, facilitating price movement analysis, pattern recognition, and identification of potential market opportunities from the convenience of their mobile devices — anytime and anywhere.
With 38 drawing tools and more than 60 technical indicators, as well as real-time data that updates every 0.03 seconds, the tool empowers users to create diverse charts to uncover potential trading opportunities and customise technical indicators for optimal investment decisions.
“Technical trading used to be a full-time endeavour given its complex charting and need for multiple desktop monitors and the use of several monitors to keep track of multiple data points. Moomoo’s line drawing tool is game-changer as it is mobile-friendly, which allows traders to conveniently utilise it on-the-go. It also supports more than six monitors simultaneously on one screen, providing traders with additional convenience,” Chia said.
Seizing market opportunities
An analysis of Moomoo’s data highlighted the real-world applications of the charting tools to capture market opportunities. The use of charting tools to conduct technical analysis on U.S. stocks rose by 50% over the past month, according to data from Moomoo Technologies Inc.
The upsurge reveals global investors actively captured the recent U.S. stocks upcycle, particularly in the tech giants. According to Moomoo data, the most viewed U.S. stocks in the past month were Tesla, Apple, Nvidia, Meta and Nio American depositary shares.
Enagaging the community
“In addition to our tech capabilities, Moomoo believes that education is the bedrock of every successful investment journey,” Chia said.
A series of online courses has been introduced on Moomoo’s learning portal — Moo Learn — to educate users on drawing techniques for the charting tools. Novice investors are also encouraged to join Moomoo’s interactive online community, where experienced investors actively share their insights on technical investing under various discussion topics.
To engage with younger investors, Moomoo Singapore has engaged with several universities in Singapore as part of its education outreach programs. It is currently working with the Singapore Institute of Technology to conduct a study on the use of technology in promoting financial resilience and literacy.
In addition, Moomoo has conducted paper trading competitions with several universities to raise awareness of trading techniques among the younger generation.
“Moomoo Singapore will continue to leverage its data-driven approach to create ever greater value for our clients. We will continually upgrade and introduce new features to empower users with robust tools to navigate financial markets effectively, while pushing out more investor education programs to help our users in their investment journeys,” Chia said.
About Moomoo Singapore
Moomoo Financial Singapore Pte. Ltd. (Moomoo Singapore) is an advanced financial technology company transforming the investing experience by offering a digitalised brokerage and wealth management platform – moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds an unique digitalised investment community to connect all users, investors, companies, analysts, media and key opinion leaders.
In Singapore, Moomoo Financial Singapore Pte. Ltd. (www.moomoo.com/sg) offers investment products for trading via the moomoo platform, and it is a capital markets services licence holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000). In June 2022, Moomoo Singapore became the first digital brokerage to receive all five memberships from the SGX Group for the securities and derivatives markets.
For more information, please contact:
Name: Zavier Ong
Tel: 9457 3075