With no changes to any of the Invesco models, we take a look at the Invesco Water Resources ETF (PHO).
There are no changes to any of the Invesco models this week. In last month’s trading, the Invesco Water Resources ETF (PHO) reached a new all-time high when it broke a spread quadruple top at $73, taking out resistance that had been in place since November 2023. The fund has now pulled back to the middle of its trading band, just above support, offering an entry point for those interested in adding long exposure. The fund tracks an index composed of US exchange-listed companies that create products designed to conserve and purify water for homes, businesses and industries (Source: Invesco).
PHO shows a favorable 4.34 fund score and positive 1.14 score direction. The fund has shown long-term relative strength as it has been on a market RS buy signal since February 2024 and has been a holding in the Invesco Sector Seven Model (POWER7) for more than two years. On its default chart, PHO currently sits at $71, just above its most recent level of support at $69. Year-to-date (through 9/26) PHO has gained 8.42% on a price return basis.