ISHARES MSCI FRONTIER MARKETS ETF – FM

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section IShares MSCI Frontier Markets ETF (FM) listed on the New York Stock Exchange.

ISHARES MSCI FRONTIER MARKETS ETF (FM)

Strength in Frontier market equities can be an indication of increasing risk appetite. When it is a risk on environment for equities, the spillover effect is usually from Developed to Emerging and Frontier market equities. Consistent uptrend in Frontier Market equities and the possibility of a fresh breakout can suggest continued positive trend for Global equity markets.

The benchmark for the Frontier equity markets performance, the iShares MSCI Frontier 100 ETF, is consolidating in a range between 28.77 and 30 levels. The well-defined consolidation range can act as a continuation chart pattern. Breakout above 30 levels can renew the strength for Frontier market equities. Several tests of pattern boundary can be followed by a reliable breakout. Possible chart pattern price target stands at 31.15 levels.

Top 10 holdings as of March 1st 2021

Country Allocation of the Frontier Markets ETF as of March 1st 2021

Industry Allocation of the Frontier Markets ETF as of March 1st 2021

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