Basing

What Does Basing Mean?
A period in which a stock price has very little or no trend. The resulting price pattern is a flat line.

Investopedia explains Basing
Basing is a common occurrence after a stock or the market has been in a lengthy decline or has increased by a large amount. In other words, the market is taking a break. Some stocks can form a base that lasts for severals years before the trend is reversed.