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Celsius (CELH) is building a cup base with a buy point of 118.29. Shares reclaimed their 50-day moving average last week and are holding above that key level. Volume surged as they cut past the 10- and 50-day lines. The somewhat asymmetric cup of this energy drink stock has a near-ideal depth of 34%.

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Celsius is on the carefully selected IBD 50 and IBD Leaderboard lists of growth stocks that are proving to be market leaders.

The energy drink stock ranks 9th in the Beverage-Non-Alcoholic group, which holds 60th place among IBD’s 197 industry groups. The Boca Raton, Fla.-based company has a less-than-ideal 74 Composite Rating as a result of erratic profit performance in the last year.

However, the Relative Strength Rating of 97 confirms the defensive play’s popularity with investors, placing it at or above 97% of all publicly traded stocks. Its RS line is also at a 52-week high, showing superior performance compared to the S&P 500.

Energy Drinks Drive Strong Partnerships

Third-quarter sales grew to $188.2 million, a whopping 98% year-over-year increase. However, the 28 cents-per-share loss for the quarter was steeper than the prior year’s 13-cent loss.

One reason for the mixed results: Celsius sells energy drinks and protein bars, which tend to perform according to seasonal variations. The third quarter may be a seasonally-weak period, with folks taking summer breaks and students heading back to class.

Last week, it announced a multiyear deal with the Professional Fighters League (PFL), the second largest mixed martial arts sports organization, triggering an 11% share spike. As a result of the deal, Celsius will be the official energy drink partner for the organization, starting with the 2022 PFL World Championship on Nov. 25 at Madison Square Gardens.

Celsius’ products include sparkling and nonalcoholic beverages and powder packets, all under the CELSIUS brand name. It also sells Celsius Heat, which provides pre- and post-workout amino acid supplements.

According to the company, its energy drinks increase metabolism while burning calories and body fat. It comes as a drink supplement as well as in an “on-the-go” powder form.

Products are available in US grocery stores, convenience stores and fitness specialty retailers. Other countries where Celsius products are available include Puerto Rico, Sweden, Finland, Norway, China, Hong Kong, Malaysia, Kuwait, Bermuda and Australia.

In August, Celsius entered into several agreements with PepsiCo (PEP). These include a securities purchase, a lockup agreement, a distribution agreement and a channel transition agreement. Through these agreements, the company issued 1,466,666 shares of Series A Convertible Preferred Stock and received $550 million in cash.

In return, Pepsi will become the primary distributor of Celsius products in the US and certain overseas markets.

Strong Institutional Interest

Institutional interest is very high for this market leader, which came public in May 2017.

Mutual funds own a staggering 80% of outstanding Celsius shares. Strong institutional interest is a further indication of the energy drink stock’s technical and fundamental power, according to the CAN SLIM stock picking methodology. Among ETFs, the iShares Russell 2000 ETF (IWM) and the Vanguard Small Cap ETF (VB) hold shares.

Follow VRamakrishnan @IBD_VRamakrishnan for more news on stocks.

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It’s unclear exactly where the myth that humans need to drink eight glasses of water a day came from – but we’ve probably all heard it at some point in our lives.

The evidence for this claim has been debunked in large part. Past studies relied on people recalling how much water they drank, which had low precision.

To provide a more accurate estimate of how much water we actually need, a new study recruited over 5,600 people of all ages from 26 countries around the world.

Researchers gave participants 100 milliliters of water enriched with 5 percent ‘doubly labeled water’.

Doubly labeled water is often used for metabolism experiments as it provides a way to track how rapidly chemicals are moving through the body.

This type of water contains unusual isotopes of hydrogen called deuterium. They have an extra neutron in their nucleus, making individual atoms twice as heavy as a normal hydrogen atom which has just one proton and no neutrons.

The resulting heavy water, which is 10 percent heavier than normal water, is safe to drink in small amounts.

To make it doubly labeled, this heavy water is also mixed with water containing an isotope of oxygen, Oxygen-18, which has 8 protons and 10 neutrons in each atom (instead of the normal 8 of each). This is a stable, naturally occurring type of oxygen that makes up 0.2 percent of the air we breathe.

“If you measure the rate a person is eliminating those stable isotopes through their urine over the course of a week, the hydrogen isotope can tell you how much water they’re replacing, and the elimination of the oxygen isotope can tell us how many calories they are burning,” says Dale Schoeller, a nutritional scientist who co-authored the study.

The University of Wisconsin–Madison lab, where Schoeller works, first pioneered the doubly labeled water experiment in humans in the 1980s.

In their recent study, published in Sciencethe team shows that daily water intake varies greatly with age, gender, activity levels, and climate.

“The current study clearly indicates that one size does not fit all guidelines for drinking water, and the common suggestion that we should drink eight 8-ounce glasses of water per day (~2 liters) is not backed up by objective evidence,” the researchers write.

Water turnover is greatest in men aged 20-30 and in women aged 20-55 and decreases after the age of 40 in men and after the age of 65 in women.

Newborns have the highest turnover of water as a percentage of all the water in their bodies – replacing around 28 percent every day.

Under similar conditions, men consume about half a liter more water every day than women.

For example, a 20-year-old man who is not athletic, weighs 70 kg, and lives in a developed country at sea level with 50 percent humidity and a mean air temperature of 10°C will have a water turnover of around 3.2 liters per day.

A nonathletic woman of the same age living in the same location will have a water turnover of around 2.7 liters per day.

Using twice as much energy in a day increases the daily water turnover by about a liter.

For every additional 50 kilograms of body weight, water turnover increases by 0.7 liters a day.

A 50 percent jump in humidity pushes water use up by 0.3 liters.

Some people in the study had extremely high water turnover: 13 women who got through over 7 liters per day, they were either athletes, pregnant women, or experiencing warm weather, and nine men who consumed over 10 liters a day.

Once again these were very active people, athletes, or Amazonian Ecuador foragers.

“The variation means pointing to one average doesn’t tell you much,” says Schoeller.

Water turnover increased for pregnant women in the third trimester of pregnancy and during breastfeeding.

People living a sedentary lifestyle in temperature-controlled indoor environments in developed countries had lower water turnover than people working as manual laborers or hunter-gatherers in developing countries.

“Improved guidelines are of increasing importance because of the explosive population growth and climate change the world currently faces, which will affect the availability of water for human consumption,” the researchers wrote.

This paper was published in Science.