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Posted On: 04/27/2020 4:01:46 PM
Post# of 154115
What is a blue sky breakout?
Short sellers become less likely to step in because they can no longer anticipate where the stock is likely to "bounce back down." RightLine readers are familiar with the term "blue-sky territory" or "blue-sky breakout." We use the term blue-sky to indicate when a stock breaks above all previous resistance points.
Short sellers become less likely to step in because they can no longer anticipate where the stock is likely to "bounce back down." RightLine readers are familiar with the term "blue-sky territory" or "blue-sky breakout." We use the term blue-sky to indicate when a stock breaks above all previous resistance points.
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