With no changes to any of the iShares models this week, we look at the iShares Copper and Metals Mining ETF (ICOP).
There are no changes to any of the iShares models this week. The NDW Non-ferrous Metals Index (DWAMETA) currently ranks second out of 41 constituents in the NDW group matrix, while the NDW Steel Index (DWASTEE) ranks sixth, indicating relative strength in industrial metals. Investors interested in taking advantage of this strength should consider the iShares Copper and Metals Mining ETF (ICOP).
ICOP currently has a strong 5.67 fund score, which is 1.45 points better than the average for all materials funds, and a positive 1.86 score direction. On its default chart, ICOP has completed four consecutive buy signals, most recently breaking a double top in last week’s trading. The fund also recently reversed into a column of Xs on its market RS chart, indicating short-term relative strength against the market. Year-to-date (through 5/13), ICOP has gained 27.98% on a price return basis; the fund also carries a 1.85% yield.
