SPDR S&P 400 Mid Cap Growth ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for SPDR S&P 400 Mid Cap Growth ETF after gaining 0.96%
(Updated on May 31, 2024)
The SPDR S&P 400 Mid Cap Growth ETF price gained 0.96% on the last trading day (Friday, 31st May 2024), rising from $84.67 to $85.48. During the last trading day the ETF fluctuated 1.58% from a day low at $84.16 to a day high of $85.49. The price has been going up and down for this period, and there has been a -0.77% loss for the last 2 weeks. Volume fell on the last day by -870 thousand shares and in total, 298 thousand shares were bought and sold for approximately $25.49 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SPDR S&P 400 Mid Cap Growth ETF with a 90% probability to be traded between $81.34 and $87.66 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MDYG Signals & Forecast
The SPDR S&P 400 Mid Cap Growth ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $85.12 and $84.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 1.79%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SPDR S&P 400 Mid Cap Growth ETF
SPDR S&P 400 Mid Cap Growth finds support from accumulated volume at $83.98 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 $1.33 between high and low, or 1.58%. For the last week the ETF has had daily average volatility of 1.04%.
Our recommended stop-loss: $81.02 (-5.22%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (MDYG) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect SPDR S&P 400 Mid Cap Growth ETF to open at $85.04, and during the day (based on 14 day Average True Range), to move between $84.44 and $86.52, which gives a possible trading interval of +/-$1.04 (+/-1.21%) up or down from last closing price. If SPDR S&P 400 Mid Cap Growth ETF takes out the full calculated possible swing range there will be an estimated 2.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $85.63 (0.18%) than the support at $83.98 (1.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is SPDR S&P 400 Mid Cap Growth ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for SPDR S&P 400 Mid Cap Growth ETF to perform well in the short-term period.
Current score: 4.059 Buy Candidate Unchanged
Predicted Opening Price for SPDR S&P 400 Mid Cap Growth ETF of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $85.04 ( 0.515%) | $85.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDYG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.37 | 1.04 % | |
| R2 | 85.86 | 0.447 % | ||
| R1 | 85.55 | 0.0796 % | ||
| Current price: | 85.48 | |||
| Support | S1 | 84.53 | -1.11 % | |
| S2 | 84.22 | -1.48 % | ||
| S3 | 83.71 | -2.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.77 | 1.51 % | |
| R2 | 85.74 | 0.304 % | ||
| R1 | 85.63 | 0.175 % | ||
| Current price | 85.48 | |||
| Support | S1 | 83.98 | -1.75% | |
| S2 | 83.75 | -2.02% | ||
| S3 | 82.91 | -3.01% |
MDYG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.133 | 0.154% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.294 | 0.393% |
| 3 | Jan 19, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.213 | 0.309% |
| 4 | Jan 19, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.227 | 0.330% |
| 5 | Jan 19, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.170 | 0.261% |
FAQ
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