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Look for Shares of Midcap SPDR Trust Series 1 to Potentially Pullback after Yesterday's 1.50% Rise

By Amy Schwartz

Midcap SPDR Trust Series 1 (AMEX:MDY) traded in a range yesterday that spanned from a low of $317.72 to a high of $320.05. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $318.08 on volume of 665,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Midcap SPDR Trust Series 1 on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $281.94. Since that recommendation, shares of Midcap SPDR Trust Series 1 have risen 11.6%. We continue to monitor MDY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Midcap SPDR Trust Series 1 have traded between a low of $216.91 and a high of $320.05 and are now at $319.19, which is 47% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Keywords: rebounders amex:mdy midcap spdr trust series 1

Ticker(s): MDY