There’s no recession in clean water. $AQUA – May 4, 2023


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This is Scott with your Chart of the Day. I want to take a look at ticker AQUA ( NYSE: AQUA ), this is Evoqua Water Technologies ( NYSE: AQUA ).

While the people on TV keep yelling about a recession, it sure doesn’t seem like there is a recession in pollution and treatment controls. At least not according to this chart here because it is in a well-defined uptrend and above all the major moving averages.

Today it just about breached its all-time high. Today, while the S&P 500 ( INDEXSP: .INX ) gets back to the 50-day moving average AQUA ( NYSE: AQUA ) is near the highs. And so that is interesting to me. And so I think this is definitely a stock you will want to keep an eye on.

Now, it does have less than 100 million shares, and, typically, with stocks like that, there can be a bit of a widespread. So just be aware of that, if you are putting a trade on something like this there could be a wide spread you may want to watch your size.

Support-wise, I am looking down here at that 21 exponential period moving average. Clear support at the 21-day and clear resistance right around this high from back here in February. That was the all-time high at 51.35.

And so I have my alert line at 51.34. That way, if it does make a new high I will be alerted as that happens. And so what I want to see from this chart is a potential break of that level and a follow-through into blue sky territory, coming on higher-than-average volume.

And so that is what I want to see here from AQUA ( NYSE: AQUA ), and it’s a chart that I now have on my watch list. Maybe you could consider adding it to yours.

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