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Look for Shares of Midcap SPDR Trust Series 1 to Potentially Rebound after Yesterday's 1.26% Sell Off

By Shiri Gupta

Midcap SPDR Trust Series 1 (AMEX:MDY) traded in a range yesterday that spanned from a low of $273.54 to a high of $275.19. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $275.51 on volume of 809,000 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 13.6%. 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, Midcap SPDR Trust Series 1 share prices have been bracketed by a low of $216.91 and a high of $282.41 and are now at $273.92, 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

Keywords: rebounders amex:mdy midcap spdr trust series 1

Ticker(s): MDY