Symbotic (NASDAQ:SYM) is an automation technology company that focuses on improving operating efficiencies in modern warehouses.
Here are some key points about Symbotic:
- Business Focus: Symbotic automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Their systems enhance operations at the front end of the supply chain.
- Stock Performance: It has a 52-week range of $29.62 to $64.142.
- Market Cap: The company’s market capitalization (intraday) is approximately $22.9 billion
The company plans to announce its earnings on July 29, 2024.
I personally like this company because it transcends politics and with both parties in favor of improved infrastructure and reshoring, this stock can do well.
From a technical perspective, SYM has been dancing around the 50-daily moving average.
Above current levels sits the July 6-month calendar range high (green line).
Higher still is the 200-DMA at around 42.47.
Even more compelling is that the Leadership illustrates clearly that SYM outperforms SPY.
Real Motion is above its 50-DMA as well. Hence, momentum and price are aligned.
To confirm SYM’s phase change to recovery in price, we will look for another close above the 50-DMA.
ETF Summary
- S&P 500 (SPY) 543 support 559 resistance
- Russell 2000 (IWM) 217 support 227 resistance
- Dow (DIA) 400 support to hold
- Nasdaq (QQQ) 470 support 490 resistance
- Regional banks (KRE) 54 now support with 60 next level to watch
- Semiconductors (SMH) Back over the 50-DMA with lots of earnings on tap
- Transportation (IYT) Like to see this get back above 67
- Biotechnology (IBB) 146 now pivotal
- Retail (XRT) 77.50 resistance to clear 75 support
- iShares iBoxx Hi Yd Cor Bond ETF (HYG) 78.00 support