How the price action of Spdr S&p Midcap 400 ($MDY) is used to our Advantage
August 21, 2023, 13:15 pm ET, BY Harold S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MDY
- Buy MDY slightly over 449.81 target 475.07 stop loss @ 448.51 Details
The technical summary data tells us to buy MDY near 449.81 with an upside target of 475.07. This data also tells us to set a stop loss @ 448.51 to protect against excessive loss in case the stock begins to move against the trade. 449.81 is the first level of support below 469.06 , and by rule, any test of support is a buy signal. In this case, support 449.81 would be being tested, so a buy signal would exist.
- Short MDY slightly under 475.07, target 449.81, stop loss @ 476.44 Details
The technical summary data is suggesting a short of MDY as it gets near 475.07 with a downside target of 449.81. We should have a stop loss in place at 476.44though. 475.07 is the first level of resistance above 469.06, and by rule, any test of resistance is a short signal. In this case, if resistance 475.07 is being tested, so a short signal would exist.
Swing Trading Plans for MDY
- Buy MDY slightly over 470.64, target 475.07, Stop Loss @ 469.28 Details
If 470.64 begins to break higher, the technical summary data tells us to buy MDY just slightly over 470.64, with an upside target of 475.07. The data also tells us to set a stop loss @ 469.28 in case the stock turns against the trade. 470.64 is the first level of resistance above 469.06, and by rule, any break above resistance is a buy signal. In this case, 470.64, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MDY slightly near 470.64, target 449.81, Stop Loss @ 472. Details
The technical summary data is suggesting a short of MDY if it tests 470.64 with a downside target of 449.81. We should have a stop loss in place at 472 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 470.64, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for MDY
- Buy MDY slightly over 470.64, target 472.54, Stop Loss @ 469.54 Details
If 470.64 begins to break higher, the technical summary data tells us to buy MDY just slightly over 470.64, with an upside target of 472.54. The data also tells us to set a stop loss @ 469.54 in case the stock turns against the trade. 470.64 is the first level of resistance above 469.06, and by rule, any break above resistance is a buy signal. In this case, 470.64, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MDY slightly near 470.64, target 468.64, Stop Loss @ 471.74. Details
The technical summary data is suggesting a short of MDY if it tests 470.64 with a downside target of 468.64. We should have a stop loss in place at 471.74 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 470.64, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Spdr S&p Midcap 400 (MDY) available here: MDY.
MDY Ratings for August 21:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Neutral |
| P1 |
0 |
0 |
449.81 |
| P2 |
468.64 |
470.64 |
475.07 |
| P3 |
472.54 |
477.62 |
498.92 |
AI Generated Signals for MDY
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Spdr S&p Midcap 400 (NYSE: MDY) data table below can help you with price action, and we have more details too. Trading plans for MDY are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for MDY:
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