Participation and exhaustion.
| Concept | Explanation | |---|---| | Volume confirmation | Activity supports the price move or chart signal. | | Volume breakout | Volume rises beyond a prior range or average. | | Volume spike | Sudden, substantial increase in trading activity. | | Volume climax | Exceptionally high activity that may occur near exhaustion. | | Relative volume | Current volume divided by average volume for a comparable period. | | Low-volume breakout | Price clears a level without much participation, reducing confirmation. |
A climax is recognizable only in context and often only after subsequent price behavior. High volume can represent both urgent buying and urgent selling.