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| OK lazybones, you missed it. You weren't paying attention when the stock dropped like a rock. Mother Market is a kind soul and wants to give you another chance. Enter the first pullback. Breakouts and breakdowns often stop dead after the first surge and pull back very close to the violated S/R. Occasionally price will even jump that S/R, right back into the former range. But that's not likely if the break occurred on good volume and pushed well out of the prior range. More often, volume will decrease ("dry up") as bars push toward the S/R barrier. Get on board, it's showtime. |
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