Symbotic Inc. (SYM) is an automation technology company that focuses on improving operating efficiencies in modern warehouses.

Here are some key points about Symbotic:

1. 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.
2. Stock Performance: It has a 52-week range of $29.62 to $64.142.
3. 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 SYM outperforms SPY.

Real Motion is above its 50-DMA as well. Hence, momentum and price are aligned.

In order 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

More By This Author:

The Long Bonds Update
The Market Requires 7 Pairs Of Eyes!
Hello July 6-Month Calendar Range