SmarTrend Watching for Potential Pullback in Shares of Midcap SPDR Trust Series 1 After 1.55% Gain
Midcap SPDR Trust Series 1 (AMEX:MDY) traded in a range yesterday that spanned from a low of $272.39 to a high of $273.80. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $271.90 on volume of 824,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 $273.49, 26% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.
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 10.1%. We continue to monitor MDY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders amex:mdy midcap spdr trust series 1