Symbotic Inc. (SYM) is an automation technology company that focuses on improving operating efficiencies in modern warehouses.Here are some key points about Symbotic:
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 SummaryS&P 500 (SPY) 543 support 559 resistanceRussell 2000 (IWM) 217 support 227 resistanceDow (DIA) 400 support to holdNasdaq (QQQ) 470 support 490 resistanceRegional banks (KRE) 54 now support with 60 next level to watchSemiconductors (SMH) Back over the 50-DMA with lots of earnings on tapTransportation (IYT) Like to see this get back above 67Biotechnology (IBB) 146 now pivotalRetail (XRT) 77.50 resistance to clear 75 supportiShares iBoxx Hi Yd Cor Bond ETF (HYG) 78.00 supportMore By This Author:The Long Bonds Update
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Hello July 6-Month Calendar Range
