The Volume is the total number of shares that have changed hands cumulatively during the current trading day. This is generally an intraday figure unless the market has closed. It can be compared against average three month volumes to identify volume spikes.
Volume, along with price, is one of the primary technical indicators. It is an essential tool in the trader's armoury and can be a good early signal of demand for a stock.
By comparing the day’s intraday Volume versus the Average Volume traded in recent weeks or months, the investor can spot outsize volume moves indicating aggressive buying or selling.