1. Price Breakout: The stock's price closed above its established resistance level, signaling a breakout. This indicates that the stock has moved past a significant price barrier where it previously faced selling pressure.
2. Volume Confirmation: The breakout was accompanied by a significantly higher trading volume compared to the stock's average daily volume. This increased volume confirms strong market interest and investor confidence in the price movement, suggesting the breakout is likely to be sustained.
2. Volume Confirmation: The breakout was accompanied by a significantly higher trading volume compared to the stock's average daily volume. This increased volume confirms strong market interest and investor confidence in the price movement, suggesting the breakout is likely to be sustained.