Crossing above pivot R1
The close crossing above the first pivot resistance on 1.5 times average volume. Floor traders have watched R1 for decades.
Pivot points come out of the previous session's high, low and close, so R1 is a level every desk running the same formula has marked. Its value is self-fulfilling before it is predictive. That is precisely why a decisive break of it on volume tends to run.
More breakouts:52-week high breakoutWithin 3% of the 52-week highVolume breakoutVolume shockers20-day channel breakout
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