Chart of the Day: Perfect Timing on Our Robotics ETF
We recently added this group as investors think about SpaceX and growth in the sector.
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We added the Global Robotics and Automation ETF (ROBO) recently as a play on the future of technology. Everyone is “all in” on the way AI is growing and affecting our daily lives. Robotics seems like the next frontier, with some amazing technology that will be cost-efficient, save times and even lives. I guess the question is how much more convenient should our lives be? In other words, do we even bother to get up off the couch anymore?
Of course that is just satire, nobody really knows how effective or controlling the robotics function will be, but I suppose it will have a place in our lives, and is already playing out daily though we may not know it.
ROBO has a nice collection of names in the ETF, including Teradyne, Ouster, Rockwell Automation (ROK), Intuitive Surgical (ISRG) and dozens of other small companies. I suspect eventually SpaceX (SPCX), with its robotics initiatives, will be added down the road and no doubt will be the biggest holding of the ETF.
The chart looks pretty decent here, I believe we picked a good spot to add the ETF. MACD is now on a confirmed buy signal, money flows remain positive while momentum is pushing up. Candles are amber color, which means neutral on the GoNoGo composite of indicators, but moving up through the upper Bollinger band this week means the ROBO is overbought but might continue onward.
We like the ROBO in TheStreet Pro Portfolio and rate it a two, stockpile on pullbacks.
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At the time of publication, TheStreet Pro Portfolio was long ROBO.
