SYM Technology @ Work
Updated
SYM has ascended YTD at a rate of 20% monthly and compounded. It has had consistent
earnings doing its thing which is providing robots to replace human labor in factories and
servicing them. Its products are in constant demand and growing. On the chart, SYM
is above the POC of the volume profile. Buyers have pushed the price higher and sellers
overall have not kept up with opposing momentum. Price is in the upper bands of both
the intermediate and short-term anchored VWAPs putting it in the fair to overvalued
range. I see SYM as continuing to rise as companies and industries with warehouses seek
to lower labor costs as a means to maintain their margins and survive the recession and its
consequences. For me, this is an obvious long setup with high potential.
earnings doing its thing which is providing robots to replace human labor in factories and
servicing them. Its products are in constant demand and growing. On the chart, SYM
is above the POC of the volume profile. Buyers have pushed the price higher and sellers
overall have not kept up with opposing momentum. Price is in the upper bands of both
the intermediate and short-term anchored VWAPs putting it in the fair to overvalued
range. I see SYM as continuing to rise as companies and industries with warehouses seek
to lower labor costs as a means to maintain their margins and survive the recession and its
consequences. For me, this is an obvious long setup with high potential.
Trade closed: target reached
Call options are up 24% in early upward price action.
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