After FC Juventus were eliminated by Ajax FC from the Champions League on Tuesday night, the shares of the club closed today's trading session with a 17% gap. The market had already priced in the potential profits for the club, should they have managed to win the tournament, however, the disappointment from the defeat dismissed all of these speculations. The negative impact on huge adverse volatility was greatly amplified by Ronaldo's "stock market effect” – the shares of his club have become increasingly liquid and volatile since his transfer from FC Real Madrid.
His presence is vitally important for the club both on and off the pitch, as his effort and goal in last night's game were the only redeeming aspects in the performance of his club, but what is even more impressive is his indirect impact on the shares of the club.
Cristiano Ronaldo is now officially the world's most recognizable athlete, his sports jersey has increased the revenue for the club from merchandizing tenfold, and his millions of social media subscribers are a precious asset. As e result, Juventus is the first football club in history to have become so rampantly intertwined with the market forces of the stock market.
What makes Juve’s shares so particularly appealing to investors and traders alike, is the distinctly outlined levels of support and resistance, which seem to contain the price action within a very straightforward range. The strong support level at 1.3085 continues to be significantly important for the price action after we first observed its strength, following the club's performance in the previous tier of the competition (you can read more about it here).
On the other hand, the shares of Ajax have increased with 9% as a result of their qualification for the next round.
Image source: Trendsharks ©, created with TradingView.com
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