July 23, 2024
Mish's Daily
By Mish Schneider
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.
To find out more about calendar ranges, momentum and leadership indicators, please contact Rob Quinn, our Chief Strategy Consultant,
Educational purposes only, not official trading advice.
For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
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Mish in the Media-Want to see more? All clips here
Money Life with Chuck Jaffe Podcast-Mish leans optimistic with some caveats plus a bit about the election 07-23-24
Business First AM 3 Keys to Trade the Market 07-23-24
BFM Radio Malaysia ITS ALWAYS GOOD TO TAKE SOME PROFITS 07-16-24
Schwab Network The Inside Sectors Or Economic Modern Family 07-16-24
Coming Up:
July 24 Better Systems Trading Podcast
July 25 Live Coaching Members only
August 2 Yahoo Finance
August 5 Breakfast Bytes Singapore radio
August 7 IBD podcast
Weekly: Business First AM, stockpick.app
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
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