Best ETFs to Buy Now (Pt. 1): ICLN – Global Clean Energy ETF 🌱

📦 Quick Overview

📉 ETF: iShares Global Clean Energy (ICLN)

📊 Setup: Reversal from recent downtrend confirmed

📈 Target Price: $46 (trend channel top)

❌ Invalidation Level: Close below $10.35

🧠Market Context: Bullish Markets, Stretched Setups

Equity markets have had a phenomenal run, with many major indices and ETFs reaching new all-time highs. While that’s been great for existing holders, it presents a challenge for disciplined traders and investors looking for new entries with attractive risk-reward.

That’s where this new Trends x Waves series — Best ETFs to Buy Now — comes in. Each post will uncover ETF opportunities that may have been overlooked or out of favour, but are now technically positioned for a potential trend reversal or breakout, offering more attractive upside than chasing already-overheated assets.

🔍 ETF Focus: ICLN – Global Clean Energy

Our first spotlight is on ICLN (iShares Global Clean Energy ETF) — a fund that has lagged the broader market recently, but may now be on the cusp of a major shift.

While the S&P 500 and Nasdaq have surged, ICLN has been in decline — but signs are emerging that this underperformance may have already reversed.

📉 Technical Setup: Reversal Underway

ICLN - Weekly Chart

Here’s what I’m seeing on the chart:

• ✅ A long-term uptrend channel has been respected, and price is now bouncing off the lower channel boundary

• 📉 RSI & MACD divergence at the most recent low — a classic signal of fading bearish momentum and a reversal signal

• ✂️ The recent downtrend resistance line has been broken, confirming a shift in structure

• 🔁 20-week EMA has crossed above the 50-week EMA — often a signal of longer-term trend change

This multi-signal alignment gives the current reversal more credibility than a short-term bounce.

🎯 Trade Plan & Targets

Based on the current price structure and momentum confirmation:

• ✅ ICLN is rated a Buy

• 🎯 Target: $46 — top of the trend channel

• ❌ Invalidation: If price closes below $10.35, this setup is invalidated and would require a new wave count or thesis

This provides a solid reward-to-risk profile (4.8 RR Ratio), especially given the broader macro context where many assets are extended.

💬 Final Word

ICLN may not be making headlines yet, but that’s often when the best trades begin. With a multi-signal bullish reversal in play, this ETF could quietly outperform in the coming weeks and months — while many other assets appear overbought.

This is exactly the kind of technical edge we aim to uncover in the Best ETFs to Buy Now series.

📬 To stay updated as the series continues — and to get actionable setups before the crowd —subscribe to the Trends x Waves Weekly newsletter.