SPDR(R) PORTFOLIO MID CAP SPDR(R) ETF Forecast
Evaluation of SPDR(R) PORTFOLIO MID CAP SPDR(R) ETF downgraded after the last trading session.
(Updated on Apr 24, 2024)
The SPDR(R) PORTFOLIO MID CAP SPDR(R) ETF price gained 0.138% on the last trading day (Wednesday, 24th Apr 2024), rising from $50.78 to $50.85. 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 1.10% from a day low at $50.49 to a day high of $51.05. The price has been going up and down for this period, and there has been a -1.43% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 123 thousand more shares were traded than the day before. In total, 987 thousand shares were bought and sold for approximately $50.17 million.
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 6.58% during the next 3 months and, with a 90% probability hold a price between $53.03 and $57.88 at the end of this 3-month period.
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SPMD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.64%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR(R) PORTFOLIO MID CAP SPDR(R) ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $51.65. On a fall, the ETF will find some support from the short-term average at $50.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SPDR(R) PORTFOLIO MID CAP SPDR(R) ETF
SPDR(R) PORTFOLIO MID CAP SPDR(R) finds support from accumulated volume at $50.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.555 (1.10%) between high and low. For the last week, the ETF has had daily average volatility of 1.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPMD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect SPDR(R) PORTFOLIO MID CAP ETF SPDR(R) PORTFOLIO MID CAP ETF to open at $50.80, and during the day (based on 14 day Average True Range), to move between $50.15 and $51.55, which gives a possible trading interval of +/-$0.695 (+/-1.37%) up or down from last closing price. If SPDR(R) PORTFOLIO MID CAP ETF SPDR(R) PORTFOLIO MID CAP ETF takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.08 (1.51%) than the resistance at $51.84 (1.95%), 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(R) PORTFOLIO MID CAP ETF SPDR(R) PORTFOLIO MID CAP ETF ETF A Buy?
SPDR(R) PORTFOLIO MID CAP SPDR(R) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.307 Sell Candidate Downgraded
Predicted Opening Price for SPDR(R) PORTFOLIO MID CAP ETF SPDR(R) PORTFOLIO MID CAP ETF of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $50.80 ( 0.102%) | $50.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.35 | 0.99 % | |
| R2 | 51.14 | 0.573 % | ||
| R1 | 51.01 | 0.315 % | ||
| Current price: | 50.85 | |||
| Support | S1 | 50.59 | -0.519 % | |
| S2 | 50.46 | -0.776 % | ||
| S3 | 50.24 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.02 | 4.27 % | |
| R2 | 52.69 | 3.62 % | ||
| R1 | 51.84 | 1.95 % | ||
| Current price | 50.85 | |||
| Support | S1 | 50.08 | -1.51% | |
| S2 | 48.49 | -4.64% | ||
| S3 | 48.38 | -4.86% |
SPMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.163 | 0.308% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.188 | 0.391% |
| 3 | Jan 13, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.176 | 0.402% |
| 4 | Jan 13, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.193 | 0.439% |
| 5 | Jan 13, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.161 | 0.386% |
FAQ
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