Are you looking for a less volatile investment option that has shown strong relative strength in the midst of recent market turbulence? Look no further than the iShares Global Infrastructure ETF (IGF). While many ETFs are struggling to reach their 52-week highs, IGF has been holding strong and displaying multiple bullish patterns.
One key reason for IGF’s resilience is its composition. Unlike high-beta growth names that have been experiencing wild swings, IGF is focused on sectors such as Utilities, Industrials, and Energy. In particular, the oil & gas midstream sector within Energy has outperformed, contributing to IGF’s stability.
Looking at the ETF’s prospects moving forward, the daily chart indicates a potential bullish pattern known as an inverse head & shoulders formation. If this pattern holds, IGF could reach a new 52-week high around $53.50. Additionally, IGF has already broken out from a weekly bullish pattern, creating a favorable technical backdrop for further upside potential.
In its history, IGF has periodically reached new all-time highs, with the last one occurring in April ’22. Given the current bullish patterns and historical trends, it’s not far-fetched to expect another new high in the near future. For investors seeking a less volatile alternative with strong potential for outperformance, IGF presents an attractive option.
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