SPDR(R) PORTFOLIO MID CAP SPDR(R) ETF Forecast
SPDR(R) PORTFOLIO MID CAP SPDR(R) ETF upgraded to Strong Buy Candidate.
(Updated on Mar 27, 2024)
The SPDR(R) PORTFOLIO MID CAP SPDR(R) ETF price gained 1.74% on the last trading day (Wednesday, 27th Mar 2024), rising from $52.28 to $53.19. During the last trading day the ETF fluctuated 1.16% from a day low at $52.58 to a day high of $53.19. The price has been going up and down for this period, and there has been a 2.23% gain for the last 2 weeks. Volume fell on the last day by -86 thousand shares and in total, 1 million shares were bought and sold for approximately $66.27 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 strong 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 10.76% during the next 3 months and, with a 90% probability hold a price between $56.94 and $60.32 at the end of this 3-month period.
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SPMD Signals & Forecast
The SPDR(R) PORTFOLIO MID CAP SPDR(R) 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 $52.38 and $50.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 17, 2024, and so far it has risen 12.79%. 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(R) PORTFOLIO MID CAP SPDR(R) ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $50.08 and $48.49. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, SPDR(R) PORTFOLIO MID CAP SPDR(R) finds support just below today's level at $50.08. If this is broken, then the next support from accumulated volume will be at $48.49 and $48.38.
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 $0.610 between high and low, or 1.16%. For the last week the ETF has had daily average volatility of 0.88%.
Our recommended stop-loss: $51.45 (-3.28%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (SPMD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect SPDR(R) PORTFOLIO MID CAP ETF SPDR(R) PORTFOLIO MID CAP ETF to open at $52.99, and during the day (based on 14 day Average True Range), to move between $52.60 and $53.78, which gives a possible trading interval of +/-$0.593 (+/-1.11%) 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 2.23% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $50.08, some $3.11 (5.85%) from the current price of $53.19, our system finds the risk reward attractive.
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 positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.292 Strong Buy Candidate Upgraded
Predicted Opening Price for SPDR(R) PORTFOLIO MID CAP ETF SPDR(R) PORTFOLIO MID CAP ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$52.99 ( 0.382%) | $53.19 |
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 | 53.60 | 0.765 % | |
R2 | 53.36 | 0.326 % | ||
R1 | 53.22 | 0.0558 % | ||
Current price: | 53.19 | |||
Support | S1 | 52.75 | -0.82 % | |
S2 | 52.61 | -1.09 % | ||
S3 | 52.38 | -1.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 53.19 | |||
Support | S1 | 50.08 | -5.85% | |
S2 | 48.49 | -8.84% | ||
S3 | 48.38 | -9.04% |
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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