After Yesterday's Decline of 1.40%, Midcap SPDR Trust Series 1 Offers Investors Better Value
Midcap SPDR Trust Series 1 (AMEX:MDY) traded in a range yesterday that spanned from a low of $276.66 to a high of $280.37. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $277.53 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend is tracking the current trend status for Midcap SPDR Trust Series 1 and will alert subscribers who have MDY in their portfolio or watchlist when shares have changed trend direction.
Over the past year, Midcap SPDR Trust Series 1 has traded in a range of $216.91 to $288.40 and is now at $277.08, 28% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.
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