That is a breakout, I look for those daytrading. What happens when you have strong resistance like we had at .64, is that people set buy orders right above it. Also the trading algorithms recognize it and trade accordingly. The idea is that once the resistance is broken, the stock price will go up and that becomes a great point to buy. If the resistance is not broken, then the price will fall. So buying above resistance is less risky and a popular strategy; hence the jump in volume.
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