Pullback

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reversal of an upward price trend when a stock or market rises in price for several trading sessions and then declines in price.

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A falling back of a price from its peak. This type of price movement might be seen as a brief reversal of the prevailing upward trend, signaling a slight pause in upward momentum.

Investopedia Says:
Often pullbacks are seen as buying opportunities after a security has had a large upward price movement. It is important, however, to analyze closely any pullback as it may be a sign of a definite trend reversal or a slight pause in the upward trend, each having very different trading implications.

Related Links:
To "find your game" in technical analysis, you need to be able to recognize reversals and continuations as they form. Price Patterns Part 1: Introduction
Learn how to successfully trade pullbacks and to avoid being crushed by "falling safes". Why A Falling Stock Is Not Always A Bargain
Learn how to spot the pivot point from which a new movement will emerge. Find A Trend With The Partial Retrace
Prices never move in straight lines, so it's time to learn about this powerful trend-following technique. Peak-and-Trough Analysis


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