SYM to $89
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Overview
Consumers of artificial intelligence have garnered my attention, specifically cybersecurity and robotics automation companies. This is a hopeful attempt to obtain early exposure to industries that may thrive during the era of artificial intelligence. Symbotic (
SYM ) is one of the those companies.
What does SYM do?
Symbotic Inc. utilizes artificial intelligence and robotics to enhance warehouse production. How this translated to me is that they support online shopping (ex: Amazon) by generating environments that can keep up with the demand through the use of robotic automation and artificial intelligence. This could be used in just about every business venture as a growing company will face the challenges that come with maintaining a healthy supply chain. This is why I believe Symbotic has a bright future ahead.
As of 24 July 2023, Symbotic and SoftBank (
9984 ) jointly founded GreenBox Systems LLC which aims to provide access to Symbotic's automations and software. The goal is to reduce inventory costs while simultaneously increasing capacity and management -- organization and collection. SoftBank has also vested in Symbotic with the purchase of 17.8M shares (worth $707,550,000 today) in addition to an unspecified amount of warrants covering 2% of outstanding shares. Warrants are similar to options except they are distributed to the holder directly by the underlying company.
Key takeaway: SoftBank is significantly invested in the A.I. powered robotics company.
2025 Price Target
Symbotic has been in a yearlong symmetrical triangle that appears ready for a breakout before the end of 2024. If a breakout does occur, I believe the share price will reach around $89 USD sometime in 2025. This price target was determined by utilizing uptrend Fibonacci retracement levels from the lowest and highest values of the current trading pattern.
Short-Term Price Target
A double bottom pattern appears to be forming which may see the share price diminish back to the $32-35 price range (yellow circle) in the near future. Should these price levels experience significant support, I believe the next area of significance will be the $41-42 price range (green circle). A breakout at this level may indicate a further rally.
Consumers of artificial intelligence have garnered my attention, specifically cybersecurity and robotics automation companies. This is a hopeful attempt to obtain early exposure to industries that may thrive during the era of artificial intelligence. Symbotic (
SYM ) is one of the those companies.What does SYM do?
Symbotic Inc. utilizes artificial intelligence and robotics to enhance warehouse production. How this translated to me is that they support online shopping (ex: Amazon) by generating environments that can keep up with the demand through the use of robotic automation and artificial intelligence. This could be used in just about every business venture as a growing company will face the challenges that come with maintaining a healthy supply chain. This is why I believe Symbotic has a bright future ahead.
As of 24 July 2023, Symbotic and SoftBank (
9984 ) jointly founded GreenBox Systems LLC which aims to provide access to Symbotic's automations and software. The goal is to reduce inventory costs while simultaneously increasing capacity and management -- organization and collection. SoftBank has also vested in Symbotic with the purchase of 17.8M shares (worth $707,550,000 today) in addition to an unspecified amount of warrants covering 2% of outstanding shares. Warrants are similar to options except they are distributed to the holder directly by the underlying company.Key takeaway: SoftBank is significantly invested in the A.I. powered robotics company.
2025 Price Target
Symbotic has been in a yearlong symmetrical triangle that appears ready for a breakout before the end of 2024. If a breakout does occur, I believe the share price will reach around $89 USD sometime in 2025. This price target was determined by utilizing uptrend Fibonacci retracement levels from the lowest and highest values of the current trading pattern.
Short-Term Price Target
A double bottom pattern appears to be forming which may see the share price diminish back to the $32-35 price range (yellow circle) in the near future. Should these price levels experience significant support, I believe the next area of significance will be the $41-42 price range (green circle). A breakout at this level may indicate a further rally.
Dagangan aktif
The symmetrical triangle pattern is invalid and a descending wedge appears to be in development. The massive correction in share price (approx 33%) from $39 is overreactive in my opinion. It stemmed from a lack of profitability in the announced EPS in yesterday's earnings release.
The descending wedge is a bullish technical pattern and could continue to form over the next several months with a lot of noise between $26 and $39. I am maintaining my long-term hold of company shares with a price target of $89.
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Penafian
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