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Look for Shares of Midcap SPDR Trust Series 1 to Potentially Rebound after Yesterday's 1.62% Sell Off

By Nick Russo

Midcap SPDR Trust Series 1 (AMEX:MDY) traded in a range yesterday that spanned from a low of $263.05 to a high of $266.34. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $263.99 on volume of 612,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Midcap SPDR Trust Series 1 on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $244.18. Since that recommendation, shares of Midcap SPDR Trust Series 1 have risen 9.9%. We continue to monitor MDY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Midcap SPDR Trust Series 1 share prices have moved between a 52-week high of $282.41 and a 52-week low of $216.91 and are now trading 22% above that low price at $264.02 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

Keywords: rebounders amex:mdy midcap spdr trust series 1

Ticker(s): MDY