Day Trading Gap Algorithm
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Stochastic Overbought: Stochastic (14,3,3) reached overbought levels by climbing over 80. Stochastic Overbought that occurs on a small range day make excellent day trades and swing trades the next day.
SWN on 1/5/16 met the above criteria for a Stochastic Overbought Setup. The daily chart below shows the subsequent trade below the 1/5/16 low at $7.36, slightly below the trigger entry price of $7.43. SWN traded down to a low of $6.36 the same day, and $5.56 four days later.
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Here are the Stochastic Overbought stocks on 3-23-2017 for trading on 3-24-2017
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