Symbotic Inc.Updated SYM eyes on $29.64: Dancing on a High Wire or a Launch Pad?
SYM made serious moves off the bottom.
Currently dancing on a semi-major fib.
This could be a good entry for next leg.
Early going will be tough with clear hurdles.
But we might be accumulating here to launch.
Late longs here could have SL just below fib.
$ 29.64 is the key level of interest here.
$ 30.56 - 30.87 will be first resistance.
$ 31.88 - 32.11 is a MAJOR resistance.
Break of MAJOR resistance should run strong.
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Currently dancing on a semi-major fib.
This could be a good entry for next leg.
Early going will be tough with clear hurdles.
But we might be accumulating here to launch.
Late longs here could have SL just below fib.
$ 29.64 is the key level of interest here.
$ 30.56 - 30.87 will be first resistance.
$ 31.88 - 32.11 is a MAJOR resistance.
Break of MAJOR resistance should run strong.
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Trade active
BOOM (yellow area is from posting time)Took off from our "Major Support",
and blew through "Major Resistance".
.
Zoom in a bit (M15) with some notes:
Each of our bands has been nicely confirmed.
Also a couple of clean Pings on a Genesis fib.
ie: We can continue to count on our fibs/zones.
.
Looking above:
$33.63-34.01 a minor but significant resistance
$36.09 is a Golden Genesis fib and worthy TP.
$31.88-32.11 below should be decent support.
.
SUMMARY:
- Our fibs caught the bounce nicely.
- Currently at a minor resistance.
- Expecting higher after a small dip
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Trade closed: target reached
BOOM! 28% gainsFirst MAJOR target hit!
Golden Genesis fib at $36.09
Time to book some/all of the 28%.
Golden Genesis fib likely to cause pullback.
Let's see how the pullback develops for possible rebuy.
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the Golden Ratio is my Religion
the Trading View is my Nation
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the Trading View is my Nation
the Moderator Tag is my Flag
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.