Take for example $NVIDIA(NVDA)$ its strong price increases with high volume. High volume on up days, particularly following positive news like robust earnings report or Jensen Huang's major key note speeches, signal strong buying conviction.
Volume indicators like On Balance Volume or OBV and Money Flow Index or MFI are used to further confirm these trends and spot divergence between price and volume. This provides extra layers of confidence or caution to the analysis.
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