Look for Shares of SPDR Trust Series 1 to Potentially Pullback after Yesterday's 1.20% Rise
SPDR Trust Series 1 (AMEX:SPY) traded in a range yesterday that spanned from a low of $206.14 to a high of $207.84. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $206.10 on volume of 43.9 million 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 SPDR Trust Series 1 on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $194.37. Since that recommendation, shares of SPDR Trust Series 1 have risen 5.6%. We continue to monitor SPY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
SPDR Trust Series 1 share prices have moved between a 52-week high of $213.78 and a 52-week low of $181.02 and are now trading 15% above that low price at $207.71 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
Keywords: rebounders amex:spy spdr trust series 1