Yeah it might be, like I said, I would want to see a much wider view of the chart overall.......there is only 53 days of trading on that chart, which is not usually anywhere near enough for a proper judgement.
And I wouldn't mind seeing a price scale, so I know how much ground that rise in price actually made.
Climactic action is pretty rare, it doesn't happen a lot. You will see stopping volume a bit more often, which not considered as strong, but is still a decent event (it is called 'Stopping' volume, because - this amount of buying (volume) is enough to 'stop' a continuing downtrend)
Personally, I try to simplify things to some extent, and try not to pin all these names onto the individual bars.
So it traded 7.15 million dollars worth on that bar, which is not huge but a reasonable amount no doubt, probably depends on the overall market cap, and number of shares on issue. Remember if a stock is quite illiquid and doesn't trade very high volumes on average, some decent trading on one particular day may look climactic but may just look bigger than it really is when compared to the normal (much smaller) volume.
Also, make sure all that trading was done 'on market' (I suspect it was in this case), as sometimes 'off market' cross trades or transfers can distort your analysis.
