In most cases, the stock value increases significantly following the announcement of inclusion in the S&P 500 Index. This Phenomenon, also called the S&P phenomenon, may be explained by price pressure, downward-sloping demand curves, improved liquidity, improved operating performance, and increased investor awareness. However, in most cases, these price improvements are artificial and do not have a fundamental basis. Previous studies have indicated that price improvements due to the Inclusion Effect are usually wiped out after the stock joins Standard & Poor's 500 index.
Trade closed: stop reached:
All technicals were pointing to one direction but this has been an unexpected move. There is a chance of triple top at 317 but let's see.
Comment:
What a beast! This is not only is not going to drop, it should keep climbing to 500. Most analysts cannot understand the price movement at this point but the upward pressure persists.
