SPDR S&P MIDCAP 400 ETF Forecast
Green day on Monday for SPDR S&P MIDCAP 400 ETF after gaining 1.41%
(Updated on May 06, 2024)
The SPDR S&P MIDCAP 400 ETF price gained 1.41% on the last trading day (Monday, 6th May 2024), rising from $535.36 to $542.93. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.651% from a day low at $539.50 to a day high of $543.01. The price has risen in 7 of the last 10 days and is up by 3.71% over the past 2 weeks. Volume fell on the last day by -277 thousand shares and in total, 653 thousand shares were bought and sold for approximately $354.78 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.89% during the next 3 months and, with a 90% probability hold a price between $534.66 and $579.43 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MDY Signals & Forecast
Mostly positive signals in the chart today. The SPDR S&P MIDCAP 400 ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $530.85 and $536.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.11%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for SPDR S&P MIDCAP 400 ETF
SPDR S&P MIDCAP 400 finds support from accumulated volume at $537.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $3.51 between high and low, or 0.651%. For the last week the ETF has had daily average volatility of 1.43%.
Our recommended stop-loss: $519.68 (-4.28%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (MDY) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect SPDR S&P MIDCAP 400 ETF to open at $541.81, and during the day (based on 14 day Average True Range), to move between $535.31 and $550.55, which gives a possible trading interval of +/-$7.62 (+/-1.40%) up or down from last closing price. If SPDR S&P MIDCAP 400 ETF takes out the full calculated possible swing range there will be an estimated 2.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $537.60 (0.98%) than the resistance at $552.38 (1.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SPDR S&P MIDCAP 400 ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR S&P MIDCAP 400 ETF to perform well in the short-term.
Current score: 1.832 Buy Candidate Unchanged
Predicted Opening Price for SPDR S&P MIDCAP 400 ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $541.81 ( 0.206%) | $542.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 545.32 | 0.441 % | |
| R2 | 543.98 | 0.194 % | ||
| R1 | 543.15 | 0.0413 % | ||
| Current price: | 542.93 | |||
| Support | S1 | 540.47 | -0.453 % | |
| S2 | 539.64 | -0.605 % | ||
| S3 | 538.30 | -0.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 556.40 | 2.48 % | |
| R2 | 554.42 | 2.12 % | ||
| R1 | 552.38 | 1.74 % | ||
| Current price | 542.93 | |||
| Support | S1 | 537.60 | -0.98% | |
| S2 | 529.80 | -2.42% | ||
| S3 | 523.21 | -3.63% |
MDY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Apr 30, 2024 | $1.01 | 0.194% |
| 2 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $1.89 | 0.378% |
| 3 | Mar 10, 2023 | Sep 15, 2023 | Oct 31, 2023 | $1.56 | 0.360% |
| 4 | Mar 10, 2023 | Jun 16, 2023 | Jul 31, 2023 | $1.51 | 0.304% |
| 5 | Mar 10, 2023 | Mar 17, 2023 | Apr 28, 2023 | $1.19 | 0.262% |
FAQ
Click here for our free guide on how to buy SPDR S&P MIDCAP 400 ETF ETF.
