Screening Filters & Rationale
Price (max: $3):
- Purpose: Identify stocks priced under $3 to align with the user's budget for day trading.
- Rationale: Low-priced stocks often exhibit higher volatility, which can create profitable intraday trading opportunities.
Relative Volume (min: 1.5):
- Purpose: Focus on stocks with significant trading activity compared to their average volume.
- Rationale: High relative volume indicates increased interest and potential price movement, essential for day trading.
Weekly Average Turnover (min: 1,000,000):
- Purpose: Ensure sufficient liquidity for smooth entry and exit during trades.
- Rationale: High turnover reduces the risk of slippage and ensures better execution of trades.
RSI 14 (min: 30, max: 70):
- Purpose: Target stocks that are neither overbought nor oversold to avoid extreme price reversals.
- Rationale: RSI within this range suggests balanced momentum, ideal for short-term trading strategies.
Weekly Price Change Percentage (min: 0%):
- Purpose: Select stocks with positive price momentum over the past week.
- Rationale: Positive weekly performance indicates upward trends, increasing the likelihood of profitable day trades.
This list is generated based on data from one or more third party data providers. It is provided for informational purposes only by Intellectia.AI, and is not investment advice or a recommendation. Intellectia does not make any warranty or guarantee relating to the accuracy, timeliness or completeness of any third-party information, and the provision of this information does not constitute a recommendation.