  We analyze the effect of multitrace deformations in conformal field theories
at leading order in a large N approximation. These theories admit a description
in terms of a weakly coupled gravity dual. We show how the deformations can be
mapped into boundary terms of the gravity theory and how to reproduce the RG
equations found in field theory. In the case of doubletrace deformations, and
for bulk scalars with masses in the range $-d^2/4<m^2<-d^2/4+1$, the deformed
theory flows between two fixed points of the renormalization group, manifesting
a resonant behavior at the scale characterizing the transition between the two
CFT's. On the gravity side the resonance is mapped into an IR non-normalizable
mode (Gamow state) whose overlap with the UV region increases as the dual
operator approaches the free field limit. We argue that this resonant behavior
is a generic property of large N theories in the conformal window, and
associate it to a remnant of the Nambu-Goldstone mode of dilatation invariance.
We emphasize the role of nonminimal couplings to gravity and establish a
stability theorem for scalar/gravity systems with AdS boundary conditions in
the presence of arbitrary boundary potentials and nonminimal coupling.
