These alerts occur when a stock gaps in one direction, starts to fill the gap, but retraces its steps and continues in the original direction of the gap.

A false gap up retracement alert occurs when the price continues above the open by a sufficient margin for the first time.  A false gap down retracement alert occurs when the price continues below the open by a sufficient margin for the first time.  In order to have an alert, there must have been a sufficiently large gap between the close and the open, and the price must have partially filled that gap.  If the price immediately moves away from the close price (continuing in the direction of the gap), if the price crosses the close price (overfilling the gap), or if the gap was too small, there can be no alert.

Normally each stock can have no more than one of these alerts per day.  However, if the exchange reports a correction to a bad print, it is possible to see more.

More options related to these alerts are listed below.