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The Global X MSCI Norway ETF (NORW) has strong technical momentum and is trading at new highs.
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NORW has gained more than 35% over the past year.
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The ETF maintains a 100% “Buy” technical opinion from Barchart.
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NORW offers diversified, single-country ETF exposure that investors should consider.
Today I’m going to make an exception and include the Global X MSCI Norway ETF (NORW). I keep a watchlist for foreign ETFs, and today this one came up with a 100% “Buy” Barchart opinion.
With less than $130.31 million in assets under management, the Global X MSCI Norway ETF seeks to provide investment results that generally match the value and yield performance, before fees and expenses, of the MSCI Norway IMI 25/50 Index.
I found today’s Daily Chart by using Barchart’s powerful analytical functions to plot stocks and ETFs with the highest technical buy signals; high current intensity in both power and direction; and the Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts to get consistent price appreciation. NORW checks those boxes.
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and therefore may change each day as the market fluctuates. Therefore the indicator numbers shown below may not match what you see live on the Barchart.com website when you read this report. These technical indicators form a Barchart View for a particular stock.
NORW reached an all-time high of $37.17 on March 18.
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NORW has a Cropped Alpha of +42.76.
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It has a 100% “Buy” rating from Barchart.
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The ETF has gained 35.71% over the past 52 weeks.
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NORW has a consistent “Buy” Trend Seeker signal.
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The ETF recently traded at $37.06 with a 50-day moving average of $33.72.
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NORW made 7 new highs and is up 5.89% in the last month.
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The Relative Strength Index (RSI) is at 70.52.
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There is a technical support level around $36.14.
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CFRA’s MarketScope rates the ETF a “4 Star Buy” with a Risk Rating of 92/100 and an Expense Rating of 90/100.
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2,940 investors follow the ETF in search of Alpha, rating it as “Buy.”
If you want exposure to one country here as a diversified portfolio. Alternatively, you may want to consider the iShares Norway ETF (ENOR).
Additional disclosure: The Daily Barchart highlights stocks and ETFs that are experiencing exceptional current price declines. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly recommended that you follow a predetermined diversification and stop loss discipline that is consistent with your investment risk tolerance.
As of the date of publication, Jim Van Meerten did not have (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. This article was originally published on Barchart.com
