Norway ETF ENOR
Norway ETF closed down by -2.61% to 27.96 on 23 January 2021 and +-2.98% on a weekly basis. Norway ETF momentum was last calculated at +100.0/100 indicating positive momentum. Norway ETF trend is +75.0/100 indicating a positive trend. Norway ETF momentum exhaustion is 1.64988 indicating Norway ETF is oversold.Norway ETF RSI is 70.3202 .
Norway ETF ENOR Chart
Norway ETF ENOR Statistics
MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the Norway ETF. Click here to explore the financial factors monitored and their current signals.
Click here to explore the methodology used for estimating the Norway ETF trading signals presented in the Norway ETF statistics table.
Norway ETF closed at 27.96 on 23 January 2021. Norway ETF trend was last calculated at +75.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Norway ETF momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. Norway ETF momentum exhaustion is 1.64988 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Norway ETF is oversold and a possible reversal is imminent. Norway ETF RSI was last calculated at 70.3202. Norway ETF moving averages were last recorded as follows: 1-month moving average: 24.497 in an uptrend , 1-quarter moving average: 22.6447 in an uptrend and 1-year moving average: 20.7071 in a downtrend. Norway ETF annual return was last recorded at None%, daily return was last recorded at -2.61%, and weekly return was last recorded at -2.98%. Norway ETF histrorical 20-day volatility was last recorded at 16.717%, Norway ETF alpha None, Norway ETF beta None and Norway ETF maximum drawdown was recorded at None%. MacroVar models monitor Norway ETF statistics based on historical data since 1970.
Norway ETF ENOR News
Norway ETF Factors
Norway ETF related Indicators
|Norwegian Krone US Dollar (NOK/USD)||NOKUSD||8.88||-0.5||-1||-1.39952||40.0229||1.66||4.04||8.48||-0.02987|
|Norway 10-Year Bond Yield||NO.10Y||1.13||0||0.75||0.57682||64.5598||-13.21||-21.85||-21.14||-0.33403|
|Norway 5-Year Bond Yield||NO.5Y||0.91||0||0.25||-0.08322||48.3716||-13.83||-21.55||-7.8||-0.59753|
|Norway 2-year bond yield||NO.2Y||0.41||-0.5||-0.75||-0.59766||35.4916||-1.2||-5.75||33.12||-0.9563|
|Norway Yield Curve||NO.YC||0.72||1||1||1.39382||67.4062||-18.83||-28.78||-34.31||21.1|
Norway Economic Indicators
|balance of trade||25023||14354||0.743277||-3.71635||1.0||1.0||0.0833333||2021-06-30|
|central bank balance sheet||12417600||12006200||0.0342656||0.0950747||1.0||1.0||0.566667||2021-06-30|
|consumer price index cpi||115.3||114.9||0.00348129||0.0285459||1.0||1.0||0.683333||2021-06-30|
|core inflation rate||1.4||1.5||-0.0666667||-0.548387||-1.0||-1.0||0.1||2021-06-30|
|current account to gdp||1.9||2.8||-0.321429||-0.878205||-1.0||-1.0||0||2020-01-31|
|deposit interest rate||-1||-1||0||-3||-1.0||-1.0||0.183333||2020-12-31|
|foreign direct investment||-24017||10237||-3.3461||-8.18857||-1.0||-1.0||0.0666667||2020-10-01|
|foreign exchange reserves||689302||679604||0.0142701||-0.0379958||1.0||-1.0||0.133333||2021-06-30|
|gdp growth annual||-1.4||-0.6||1.33333||2.5||-1.0||-1.0||0.95||2021-01-01|
|government debt to gdp||40.6||39.4||0.0304569||-0.171429||1.0||-1.0||0||2019-01-31|
|industrial production mom||-0.3||-0.1||2||-0.727273||-1.0||1.0||0.633333||2021-05-31|
|loans to private sector||1971330||1950460||0.0107||0.0319263||1.0||1.0||0.433333||2021-05-31|
|long term unemployment rate||1.1||0.9||0.222222||0.1||1.0||1.0||0.516667||2021-01-01|
|money supply m0||71710||74624||-0.0390491||-0.742||-1.0||-1.0||0.0333333||2021-05-31|
|money supply m1||2613840||2582130||0.0122806||0.0997261||1.0||1.0||0.733333||2021-05-31|
|money supply m2||2784670||2752550||0.0116692||0.0900141||1.0||1.0||0.783333||2021-05-31|
|new home sales||11968||10340||0.157447||0.0551931||1.0||1.0||0.533333||2021-06-30|
|Producer Price Index||127.4||121.8||0.045977||0.371367||1.0||1.0||1||2021-06-30|
|retail sales MoM||5.8||0.4||13.5||0.208333||1.0||1.0||0.766667||2021-05-31|
|youth unemployment rate||12.8||10.6||0.207547||0.242718||1.0||1.0||0.883333||2021-03-31|
Norway ETF Trading Signals
MacroVar estimates the following signals: Norway ETF momentum, Norway ETF trend, Norway ETF oscillator, Norway ETF RSI and Norway ETF returns.
Norway ETF MomentumMomentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.
MacroVarNorway ETF momentum signal ranges from -100 to +100. The Norway ETF momentum signal is derived as the mean value from 4 calculations for the Norway ETF. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Norway ETF return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Norway ETF ENOR momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Norway ETF momentum signal moves from positive to negative value or vice-versa.
Norway ETF trendNorway ETF trend signal ranges from -100 to +100. Norway ETF trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Norway ETF Closing price vs Norway ETF moving average (MA) calculation: If Norway ETF is greater than Norway ETF MA value is +1, else -1, 2. Norway ETF Moving average slope calculation: if current Norway ETF moving average is higher than the previous MA, Norway ETF upward slope +1, else -1
Norway ETF trend model can be used as a trend strength indicator. Norway ETF trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Norway ETF trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The Norway ETF 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Norway ETF is in an uptrend when Norway ETF price is higher than the 52-week moving average and the Norway ETF 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Norway ETF oscillator and Norway ETF RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
Norway ETF oscillatorThe Norway ETF oscillator estimated by MacroVar is the z-score of the current Norway ETF price versus Norway ETF 1-year simple moving average price. The formula for the Norway ETF oscillator is:
Norway ETF oscillator = (Current Price – 250 trading days Norway ETF simple moving average price) / (250 days Norway ETF price standard deviation)
Norway ETF oversold conditions
Norway ETF is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Norway ETF is oversold it is often due for a rebound. Values of the Norway ETF oscillator lower than -2.5 signify oversold conditions. It must be noted that the Norway ETF oscillator must be analyzed ibn conjunction with the rest of Norway ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Norway ETF RSI.
Norway ETF overbought conditions
Norway ETF is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Norway ETF is overbought it is often due for a correction. Values of the Norway ETF oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Norway ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.
Norway ETF RSI indicatorThe RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Norway ETF is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Norway ETF uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.
Norway ETF returnsMacroVar calculates Norway ETF returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
Norway ETF returns = (Norway ETF Closing Price – Norway ETF Previous Price)/(Norway ETF Previous Price)