The chart of the day belongs to the robots for retailer’s manufacturer, Symbotic (SYM), states Jim Van Meerten of BarChart.com.
I found the stock by using powerful screening functions to find stocks with the highest technical buy signals, highest weighted alpha, superior current momentum, and having a buy signal to review the charts for consistent price appreciation. Since a buy signal on 5/18, the stock gained 19.78%.
SYM Price vs Daily Moving Averages
Symbotic Inc., an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assembles, and installs modular inventory management systems and performs the configuration of embedded software. Symbotic, Inc. is headquartered in Wilmington, Massachusetts.
Please note that the indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Technical Indicators:
- 100% technical buy signals
- 193.60+Weighted Alpha
- 276.15% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50, and 100-day moving averages
- Ten new highs and up 41.34% in the last month
- Relative Strength Index 73.47%
- The technical support level at $34.69
- Recently traded at $37.54 with a 50-day moving average of $26.87
Fundamental Factors:
- Market Cap $20.05 billion
- Revenue is projected to grow 310.20% this year and another 58.10% next year
- Earnings are estimated to increase 147.10% next year
Analysts and Investor Sentiment: I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts gave ten strong buy, two buy, and one hold opinion on the stock
- Analysts' price targets are between $30 and $36
- CFRAs MarketScope gives it a sell rating
- MarketBeat comments: The company is in a hyper-growth phase, although growth is slowing. The most recent report had revenue up more than 200%, and the guidance expects the coming quarter to produce roughly 50% of growth or about $260 million. Walmart (WMT), BTW, has a large stake in the company.
- 2,070 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option, or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least every week.
Learn more about Jim Van Meerten at BarChart.com.
