- The Global X MSCI Norway ETF (NORW) has strong technical momentum and is trading at new all-time highs.
- NORW has gained more than 35% over the past year.
- The ETF maintains a 100% “Buy” technical opinion from Barchart.
- NORW offers diversified, single-country ETF exposure that investors should consider.
Today’s Featured ETF
Today I'm going to do something different and feature The Global X MSCI Norway ETF (NORW). I keep a watchlist of foreign ETFs, and today this one came up with a 100% Barchart “Buy” Opinion.
With $130.31 million in assets under management, the Global X MSCI Norway ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Norway IMI 25/50 Index.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks and ETFs with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. NORW checks those boxes.
Barchart Technical Indicators for The Global X MSCI Norway ETF
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
NORW scored an all-time high of $37.17 on March 18.
- NORW has a Weighted Alpha of +42.76.
- It has a 100% “Buy” opinion from Barchart.
- The ETF has gained 35.71% over the past 52 weeks.
- NORW has its Trend Seeker “Buy” signal intact.
- The ETF recently traded at $37.06 with a 50-day moving average of $33.72.
- NORW has made 7 new highs and is up 5.89% over the past month.
- Relative Strength Index (RSI) is at 70.52.
- There’s a technical support level around $36.14.
Don’t Forget the Fundamentals
- $130.31 million in assets under management.
- 12.56x trailing price-earnings ratio.
- 2.93% dividend yield
Analyst and Investor Sentiment on Global X MSCI Norway ETF
- CFRA’s MarketScope rates the ETF a “4 Star Buy” with a Risk Rating of 92/100 and a Cost Rating of 90/100.
- 2,940 investors are following the ETF on Seeking Alpha, which rates it a “Buy.”
The Bottom Line on Global X MSCI Norway ETF
If you want some single country exposure here as one with a diversified portfolio. As an alternative, you might want to consider the iShares Norway ETF (ENOR).
Additional disclosure: The Barchart Chart of the Day highlights stocks and ETFs that are experiencing exceptional current price appreciation. 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 suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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