Are reversals after a breakout bad?

[murray t turtle]

Hi guys, I'm new to live trading but I've been studying the canslim method of trading stocks for a while.

I usually look at Stocks On The Move and see which growth stocks are breaking out of bases on heavy volume.

One stock that caught my eye is BY. It has good fundamentals (EPS rating of 97). I don't like that its RS line isn't at a new high though. It broke out of a 12 week base on July 30. It gapped up past its buy point of 23.77 but then reversed and closed near the bottom of the day's range.

I'm a bit confused. The stock gapped up, which is bullish but then it reversed. Is this price action considered bearish? I've included a chart for BY for you guys to see the price action.

Thanks

%%
Good chart; 50dma /200 dma, MOST all the the trends are up on your chart/mine also.
The confusion is the few downtrends you may see/ are far outnumbered by all the uptrends/all data, daily weekly,monthly , 3 month 6 month,yearly 2 year, 3 year, upsloping 50dma, up 200dma.
SO one days close doesnt mean much@ all/takes20days closes 50 closes or 200 closes.
AS far as lower range of one days data,50dma 20,200 days mean much more......................................................
barchart.com rates it 100% buy, long term, 100% buy medium term, 100 buy short term. I have IBD books,1999- 2008 - now charts .
Many gaps are bullish; 10% gap up maybe a pause pattern.........................................
HIS books are a good study, even though i percieve you have read them.Good