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

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.

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Norway ETF ENOR 27.96 1 0.75 1.64988 70.3202 -2.61 -2.98 -3.92 -0.00039

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

Factor Symbol Last Value Predicted Value R2 MacroVar Signal
Norway PMI vs ETF NO.FACT.ETFPMI 19.43 51.7535 -0.901424

Norway ETF related Indicators

Norway ETF

Security Type Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Oslo OBX Stock Index OBX 1203.35 0.5 1 1.50265 69.3647 -1.82 -0.97 4.26 0.00025
Norway PMI vs ETF ETF vs PMI Factor NO.FACT.ETFPMI 19.43

Norway Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
Oslo OBX OBX 1203.35 0.5 1 1.50265 69.3647 -1.82 -0.97 4.26 0.00025
Norway ETF ENOR 27.96 1 0.75 1.64988 70.3202 -2.61 -2.98 -3.92 -0.00039
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

Indicator Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
balance of trade 25023 14354 0.743277 -3.71635 1.0 1.0 0.0833333 2021-06-30
building permits 2186 2993 -0.269629 -0.133571 -1.0 -1.0 0.316667 2021-05-31
business confidence 8.2 3.8 1.15789 0.188406 1.0 1.0 0.883333 2021-01-01
capacity utilization 79 77.9 0.0141207 0.0128205 1.0 1.0 0.65 2021-01-01
capital flows -70605 41423 -2.70449 -2.61741 -1.0 -1.0 0 2020-12-01
car registrations 17724 14794 0.198053 0.627847 1.0 1.0 0.966667 2021-06-30
central bank balance sheet 12417600 12006200 0.0342656 0.0950747 1.0 1.0 0.566667 2021-06-30
consumer confidence 2.5 -3.2 -1.78125 -0.865591 -1.0 -1.0 0.383333 2021-06-01
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 94301 5055 17.655 0.110246 1.0 1.0 0.683333 2021-01-01
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
exports 97877 86923 0.12602 0.706839 1.0 1.0 1 2021-06-30
external debt 6063990 6151510 -0.0142274 0.165164 1.0 1.0 0.566667 2021-01-01
fiscal expenditure 436636 395576 0.103798 0.262297 1.0 1.0 0.9 2020-07-01
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 403.336 434.167 -0.0710118 0.00598348 -1.0 1.0 0 2019-01-31
Real GDP 895250 900856 -0.00622297 0.01004 1.0 1.0 0.15 2021-03-31
gdp growth -0.6 0.8 -1.75 2 -1.0 -1.0 0.9 2021-01-01
gdp growth annual -1.4 -0.6 1.33333 2.5 -1.0 -1.0 0.95 2021-01-01
government budget 6.4 7.3 -0.123288 -0.625731 -1.0 -1.0 0 2018-02-28
Government budget -96018 -68692 0.397805 8.49733 -1.0 -1.0 0.966667 2020-07-01
government debt 765174 637963 0.199402 0.207728 1.0 1.0 0.716667 2021-01-01
government debt to gdp 40.6 39.4 0.0304569 -0.171429 1.0 -1.0 0 2019-01-31
government revenues 340618 326884 0.0420149 0.0143599 1.0 1.0 0.366667 2020-07-01
housing index 307.24 307.94 -0.00227317 0.101337 1.0 1.0 0.833333 2021-06-30
housing starts 2364 2925 -0.191795 -0.114275 -1.0 -1.0 0.35 2021-05-31
imports 72854 72569 0.0039273 0.0946271 1.0 1.0 0.666667 2021-06-30
industrial production 2.1 0.9 1.33333 -0.611111 -1.0 -1.0 0.783333 2021-05-31
industrial production mom -0.3 -0.1 2 -0.727273 -1.0 1.0 0.633333 2021-05-31
inflation cpi 2.9 2.7 0.0740741 1.07143 1.0 1.0 0.833333 2021-06-30
interbank rate 0.24 0.26 -0.0769231 -0.333333 -1.0 -1.0 0.0166667 2021-06-02
interest rate 0.25 1 -0.75 -0.8 -1.0 -1.0 0.0166667 2020-03-20
lending rate 1 1.25 -0.2 -0.5 -1.0 -1.0 0.0166667 2020-05-31
loan growth 5.2 5 0.04 0.106383 1.0 1.0 0.833333 2021-04-30
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
manufacturing pmi 60.8 58.5 0.0393162 0.245902 1.0 1.0 0.95 2021-06-30
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
PPI Index 37.1 29.4 0.261905 -3.57639 1.0 1.0 0.0666667 2021-06-30
retail sales MoM 5.8 0.4 13.5 0.208333 1.0 1.0 0.766667 2021-05-31
retail sales 5.6 2.9 0.931035 -0.282051 -1.0 -1.0 0.633333 2021-05-31
unemployment rate 5 5.2 -0.0384615 0.315789 1.0 1.0 0.916667 2020-10-31
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 Momentum

Momentum 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 trend

Norway 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 oscillator

The 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 indicator

The 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 returns

MacroVar 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)
Feedback
Feedback
How would you rate your experience?
Do you have any additional comment?
Next
Enter your email if you'd like us to contact you regarding with your feedback.
Back
Submit
Thank you for submitting your feedback!