FBO (False Break Out)
By LawrenceA price spike thru an important price level and then immediately snap back and bounded by the price level again.
For example, a stock can spike through its 20-week highest close intraday and then snap back down below that 20-week highest close. By end of the day the stock closing significantly lower. This is called a FBO against the 20-week highest close.
FBO is a sign that a reversal is potentially in the making.
