Generally, Pullback is occur when stock price break above the resistance line and gain some percentage, but after that it take a pause and fall down to that previous resistance line which just have broken. Also that line act as a support line, because when a resistance line break that line act as a support line, most of the time. Pullback give an opportunity to an investor or trader to enter that trade if anybody missed when breakout was occur.
Breakout got sold off how do you read the chart now?
marketaffairs
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@PravinGramle, now I have draw another trend line depend on the two peak (resistance point) after breakout and you will get a small downslope resistance line and if price break that resistance line, you may go for LONG.