Volume Weighted Average Price (VWAP)
For intraday traders, VWAP is often used as a trend indicator. For money managers and institutions, it's often used as benchmark price value to gauge the quality of executions from their traders or marker makers. Hedge funds and algorithms will embed VWAP into their trading systems for various strategies. VWAP is widely followed and that in itself can make it a self-fulfilling factor of importance.
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