breakaway gap

Price Gap

In technical analysis, a break on a chart representing a sudden and large price movement accompanied by high trading volume. Generally speaking, charts do not show price gaps because price movements, even when large, occur smoothly enough to not require a break in the chart. Price gaps may occur, for example, when the price of a security suddenly doubles or halves. As with many charting terms, it may be bullish or bearish; a sudden movement upward is a bullish price gap, while a sudden movement downward is bearish. It is also called a breakaway gap.

breakaway gap

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breakaway gap
In technical analysis, a gap in a chart pattern of price movement indicating a stock price has broken out of a trend on high volume. A breakaway gap is bullish if the price movement is upward and bearish if the price movement is downward. Compare runaway gap. See also exhaustion gap.
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A breakout above the neckline of a head and shoulders bottom, for example, often occurs on a breakaway gap.
Those who study the charts would say there is now a breakaway gap from the recent trend but there does look to be some resistance at 1216p initially.
That's not a particularly bullish sign; a truly powerful breakaway gap higher will result in substantial additional upside and won't be filled often for months.
Stayed a breakaway gap from three-month base on four times normal daily volume.
Seven trading days ago, the stock leapt up and broke out from a sound base creating a breakaway gap on huge volume.
804 is the bottom of the breakaway gap that began the fall rally.
The question remains whether that gap is yet another breakaway gap that will lead to additional upside or if it's of the exhaustion type that generally occurs just before a major top.