$EVAA The 5-minute trading volume was about $4.01 million, 5.8 times the previous average; the price rose 9.52% over the same period.
Let's use this figure to break down the surge in volume.
Volume spikes over short timeframes can be noisy. A large-volume candle may simply reflect a one-off burst of trading; several consecutive high-volume candles are more informative.
Whether volume expands during a breakout is often seen as one way to distinguish a genuine breakout from a failed one: a move above resistance on low volume is more likely to reverse.
Comparing several data points is more reliable than looking at just one, but even more signals still can't provide a definitive answer.
Let's use this figure to break down the surge in volume.
Volume spikes over short timeframes can be noisy. A large-volume candle may simply reflect a one-off burst of trading; several consecutive high-volume candles are more informative.
Whether volume expands during a breakout is often seen as one way to distinguish a genuine breakout from a failed one: a move above resistance on low volume is more likely to reverse.
Comparing several data points is more reliable than looking at just one, but even more signals still can't provide a definitive answer.
