Check out the Water Resources ETF $PHO posting a new all-time high:
JC discussed PHO at the start of 2022 during a Live Strategy Session.
We’ve all navigated twists and turns, picking up our fair share of gray hair. Two years later, PHO is finally moving higher.
These updated levels place the Water Resources ETF roughly 4% above our buy signal. I like raising the entry point to 65 and the target to 90.
According to Edwards and Magee’s 3% rule (price closing 3% above a defined risk level), PHO has posted a valid breakout.
All aboard!
Interestingly, PHO’s holdings include a diverse set of names.
The top three components: Ferguson PLC $FERG (Industrials), Ecolab Inc. $ECL (Materials), and Danaher Corporation $DHR (Health Care), all have their hands in water – from supplying plumbing equipment to testing water quality and protecting natural resource supplies.
It may resemble an industrial index more than a commodity ETF. But that’s OK. PHO is printing record highs in a turbulent environment, with many investors questioning which way is up.
Hop on these new all-time highs, and rest assured: If this water ETF continues to rise, so will the overall stock market.
