HAS heavy volume breakout confirms strong absorptionHays plcLSE_DLY:HASStockso_SimpleAnother consistent theme here with Hays. Price action has been trading sideways for at least four months. The confidence I can take from this is simply that the price hasn’t fallen further. Sounds stupid, but if you think about the volume transacted over that time frame, then clearly we have only just balanced out buyers and sellers. A quick look at the volume profile on the right again highlights volume concentrated at the current price level. To me this has been clear accumulation for some time, someone somewhere has been building large positions, and now we have a clear breakout, closing at the high of the day, with volume strong enough to support the move as genuine. For reference, this volume is relative to the excellent trading update it put out. Overall, looks positive on the surface here.