Ready for a breakoutPrice reached purple trendline
Closing a candle outside will confirm a bullish breakout with target next to 51.5$
Be careful because a downmove is still possible right now
SYM trade ideas
Down to fill the gapI think Symbotic will soon fill the gap to 39$
39$ was a strong resistance in the past and can provide support for a new ride
Symbotic closed outside trendlineSymbotic is getting bearisch closing candle outside trendline channel
Confirmation below 43$ will bring prices to 39$ to close the gap
SMA100 al 43,68$ can act as a support
SYM accumulate btween 30 and 34 CAN KEEP STOPS below 28 , lets see if the quick correction stabilizes
AI STOCKS GOING TO DUST : SYMBOTICSymbotic is an American robotics warehouse automation company based in Wilmington, Massachusetts.
From the technical stand point, price consolidated and then rallied to take out shorters in the market place and induced longer into the market place.
If the market breaks and closes below 35.20 then I will be bearish
Price target for bearishness is the sellside Liquidity at price of 22.40
Momentum Stock: Symbiotic IncSymbotic Inc. is a company that specializes in the creation and implementation of automation technology, more specifically, robotics designed to streamline and enhance the efficiency of warehouse operations for retailers and wholesalers. Their main offering, the Symbotic system, is a comprehensive warehouse automation solution for product distribution. This not only includes the design and assembly of modular inventory management systems but also the installation and configuration of embedded software that drives these systems.
What makes Symbotic stand out is their innovative utilization of artificial intelligence (AI) and sophisticated software in tandem with cutting-edge robotics . Their AI-powered robots are capable of autonomously navigating expansive warehouse structures as large as a football field, reaching speeds of over 20 mph. This enables the rapid and precise movement of goods through the supply chain, providing substantial benefits in terms of time, cost, and resource efficiency.
From an investor's perspective, Symbotic's focus on AI and robotics within the warehousing and logistics industry could be highly attractive. Their technology targets a key area in the retail and wholesale sectors that stands to greatly benefit from increased automation and efficiency. As businesses strive for faster and more cost-effective supply chains to meet growing consumer demand, the products and services offered by Symbotic could potentially see increased adoption.
Additionally, the company's emphasis on AI technology aligns with broader market trends toward digitization and automation, which may create substantial growth opportunities in the future. It's also worth noting that as of 2023, Symbotic operates not only in the United States but also has clients in Canada, suggesting a capacity for international expansion.
All these factors, combined with the growing demand for innovative, AI-driven solutions in the logistics industry, make Symbotic a company worth considering for investors interested in the intersection of AI, robotics, and supply chain management. In the short-term however you would probably want to wait for a pull back or consolidation in price before making any decisions to enter depending on how long you want to hold the stock for.
As always how you interpret and decide to act on any results is up to you. This is just data not financial or trading advice and past performance is in no way any guarantee of future performance. Think of it as a way to spot stocks you might be interested in and can add to your watch list and perform further research on and or discuss with your broker.
Again. Not trading advice . Industries and companies change. Trends can end. Do your own research / discuss it with your advisor, but might be one to watch.
SYM Technology @ WorkSYM 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.
