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Benzinga Bulls And Bears: Tesla, Amazon, Meta And Shiba Inu Developer Admits To Big Mistake

Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.  read more.....»»

Category: blogSource: benzingaMar 18th, 2023

Here"s Why Sangamo (SGMO) Looks Ripe for Bottom Fishing

Sangamo (SGMO) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term. Shares of Sangamo Therapeutics (SGMO) have been struggling lately and have lost 13.1% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this drug developer enhances its prospects of a trend reversal. Understanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Makes the Trend Reversal More Likely for SGMOThere has been an upward trend in earnings estimate revisions for SGMO lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 1.9% over the last 30 days. This means that the Wall Street analysts covering SGMO are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that SGMO currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for Sangamo is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sangamo Therapeutics, Inc. (SGMO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Category: topSource: zacksFeb 14th, 2023

Here"s what needs to happen for one of Wall Street"s biggest bears to flip bullish and be won over by the stock market

Michael Hartnett has been stubbornly bearish for the past year. But he's willing to entertain bull arguments if these things happen. Spencer Platt/Getty ImagesBank of America's Michael Hartnett has been one of Wall Street's biggest bears over the past year.But in a Friday note, Hartnett outlined potential factors that could flip him from bearish to bullish.While Hartnett's not holding his breath, here's what he needs to see to turn bullish on stocks.High inflation, a weakening consumer, and the threat of an economic recession are all factors that have shaped the bearish view of Bank of America's chief investment strategist, Michael Hartnett.But in a Friday note, Hartnett highlighted what he needs to see to change his view and turn more bullish towards the stock market.For the year ahead, Hartnett has told investors to fade the S&P 500 as it approaches 4,200 on the idea that the current environment is a "peak goldilocks" moment following the strong January jobs report. In other words, the macro data should only get worse from here."Secular inflation + end of era of QE + end of era of US buybacks + our expectation 'no landing' in H1'23 leads to 'hard landing' in H2'23... this keeps us bearish," Hartnett wrote on Friday. Because of this view, Hartnett has told investors to not buy stocks until the S&P 500 falls at least 12% from current levels. "Nibble at S&P 3,600, bite at 3,300, gorge at 3,000," Hartnett has consistently advised, which would represent a sell-off in the S&P 500 of as much as 26% from current levels and a new cycle low in the current bear market.But Hartnett admits his bearish view on the stock market could fall apart if wage inflation can settle down before the economy experiences a hard landing, aka a painful recession.The thinking goes that if wage inflation is subdued, it would give the Federal Reserve the green light to end its interest rate hikes and even consider cutting interest rates, as wage inflation is viewed as a primary drive of overall inflation.That could be a near-perfect scenario for investors as lower interest rates could help stimulate the economy enough that it avoids a recession entirely.And even if a recession does arrive, Hartnett admits the bulls have something up their sleeve that the bears will never have: scared policymakers."Quite simply everyone expects Fed to cut and politicians to panic via more stimulus checks, rebates, debt forgiveness, at the first blush of recession," Hartnett said.Another factor that could help the stock market perform better than Hartnett currently expects is the long lag between the Fed hiking interest rates and those hikes negatively impacting the economy."Lag from easy monetary policy into economy was instant in 2020. Lag from tighter monetary policy has been much, much longer past 12 months," Hartnett said.The one-year anniversary of the Fed's first rate hike is approaching this March, and two more 25 basis point rate hikes are still expected by the market. But if the economy can continue to hold itself together and sidestep a recession, Hartnett may have to consider taking a more constructive view towards stocks. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderFeb 12th, 2023

"For The Record"

"For The Record" By Peter Tchir, chief strategist at Academy Securities Since it is the start of the year, it seems like as good of a time as any to put a few things on record before diving into the meat of this T-Report. There are things that I want to refer back to over the course of the year because they relate to the business of strategy. For the Record #1 Everyone hates strategists who claim to have called every move correctly. I can guarantee you that if someone called every move right in the markets, they wouldn’t be sitting in front of a computer typing missives because they’d be bazillionaires! A close second for the most annoying behavior by strategists is touting their good calls and completely ignoring their bad calls (Bitcoin is back to $21,000 this weekend). Some of this is human nature. We all “want” to be right and all tend to emphasize the “good” rather than the “bad”. For the Record #2 Many of our readers have P&Ls. That is a discipline like no other and while I try to think of our strategies in terms of P&L generation, risk management, etc., it isn’t the same as having an actual P&L. Having said that, we have people who live and die by daily/weekly/monthly P&Ls (which is ideal for Bloomberg IB as a form of communication). We also have people with weekly/monthly/quarterly timeframes (the T-Report is geared for these people). Finally, we have some who even think in years (which seems important for corporate strategy, but it is difficult to manage a portfolio around). For the Record #3 One thing that strategists dislike is when people discuss their “idea” with them but don’t realize that it was the strategist’s “idea”! That is largely a failing on the strategist’s part. Either the work isn’t getting distributed well enough (a good time to check mailing lists, ensure things aren’t going to junk, etc.), the work/titles are too confusing (though I’m not sure I could live without writing I Like Big Banks and I Can Not Lie), or I just need to write more clearly. Last weekend’s A Simple View is part of the process of addressing this issue going forward. 8 Seconds served the function of letting people know that our positioning had changed, but maybe the title was confusing (though the image of trying to ride a wild bull felt “informative” to me). Finally, while the Fed is apolitical, I couldn’t help but send out the Shifting Politics of Inflation on Friday, because that has the potential to shift the national narrative and could either influence the Fed or (at least in the case of the WSJ) might be the conduit the Fed is using to signal a change. On the Record We will “subtly” shift from “for the record” to “on the record”. Rachel Washburn hosted a fun and interesting webinar on Friday that started with World War III possibilities but ended in a better place. Generals (ret.) Walsh and Marks were spot on, and I was able to add a few points on how their geopolitical input is impacting our macro market and economic outlooks (replay will be available shortly). Academy was one of three firms that participated in Friday’s half-hour Real Yield show on Bloomberg TV. You know a show covers a lot of fixed income ground when CLO ETFs get mentioned and it seemed to be a fluid part of the conversation (rather than forced). Some really interesting views and ideas from the other guests made this a great show to watch if you have about 20 minutes or so this long weekend. On the Road My favorite part of my job has kicked off in earnest! From D.C. and Princeton last week, to San Francisco, Palo Alto, Newport Beach, and San Diego this week, seeing clients is back in vogue. There is nothing more fun than sitting with people in a variety of jobs/industries and sharing ideas. I’m even excited for Minneapolis in early Feb (it will be cold, but should be fun) and look forward to another opportunity to speak to a group of municipal issuers in Alabama! Travel and seeing such a diverse group of people allows me to learn about so many aspects of the economy and it makes my job so much easier! Consensus is Neutral Back to the meat of the report. If I’ve done a good job explaining myself this year, you should know that I’m basically neutral on stocks, bonds, and credit here. That view seems to be rather consensus. The CNN Fear & Greed Index has bumped up to 63 (which is technically in greed territory, but just above neutral). The AAII Sentiment Survey is in neutral territory (though very close to being too pessimistic). What was most interesting is that the number of bears has dropped from 52.3% to 39.9% since December 21st, but almost all of those people piled into the “neutral” camp as the number of bulls remained quite low. I’m not big on technical charts, but this chart sticks out so much that I couldn’t help but use it to illustrate my “neutral” point (I’m not opposed to charts, but they just aren’t my first choice of things to highlight). The S&P has snuggled right up against the 200 day moving average. From my limited understanding of charts, this is a crucial level. The S&P has failed to breach the 200 DMA since the sell-off took hold in late March. It could easily be rejected again. On the other hand, if it breaks through, we could see buyers emerge. Not only from all of those positioned as “neutral”, but from bears and particularly CTAs which have a reputation for being formulaic/algorithmic and tied to big levels (like the 200 DMA). So maybe I should refine my view from simply “neutral” to “neutral, waiting to pounce on the next move – if only I knew what that next move would be”. Even though at the start of today’s report we wrote about providing more “clarity” on views, I’d lean towards owning some tail risk in either direction! If we fail around here, many could press shorts and get out of recently acquired risk. If we break above, the opposite happens. Yes, at some level this happens all the time, but the “neutral” positioning coupled with a major, very visible level (which happens to coincide with the big round number of 4,000) makes the next few days particularly interesting for me! What’s Next for Inflation? I think that inflation will continue to fall and we will see more monthly CPI prints that are negative and even Core CPI will have a negative print this quarter. Many disagree, but I think that with Q4 coming in at 0.8% (3.2% simply annualized) we’ve “beaten” inflation. What Will the Fed Do? I’d be shocked if they did more than 25 bps at their next meeting. Yes, they will talk about “financial conditions” (aka the S&P 500), but they are starting to get the political and media aircover to back down from 50 bps and some of their higher terminal rate calls. There are still over 2 weeks until their meeting and we will get more data. I’m betting that if anything, that data steers them to “25 bps and done” messaging (probably too late for them to do zero, which is what I think that they should do). The Fed will NOT be quick to cut. They should stop hiking, but even I’m not advocating for cuts (it would have been easier if they started on the glide path to stopping rate hikes a few meetings ago). They will continue to do QT. This, to me, acts as an anchor on markets as every month we need to absorb more bonds from the system than if QE had not started in the first place. Why QT gets so little attention still baffles me. The Bank of Japan is expected to let the 10-year yield rise to as much as 1%. I view this as “on par” with QT. It is another drag on asset prices in the U.S. as Japanese investors can allow some of their FX hedged/dollar denominated bonds to roll-off when the hedges come due and just buy domestic bonds. It isn’t alarming and won’t be all at once, but it adds to the pressures of finding dollar denominated asset buyers. With the 10-year bund at 2.16% this is already happening in Europe, but it also tells me that 1% is probably getting to the low end of the range that the JGB 10-year would naturally trade at given their domestic savings rate and still low levels of inflation. What Will the Economy Do? Yes, jobs still seem good, but that isn’t as important as it should be. What I’m seeing is a couple industries acting as the epicenter of the problems for the economy! Big tech, fueled by everyone (from private equity, to vehicle manufacturers) took 5 steps forward in the past few years! Will we see one or two steps back as companies become more cost conscious and not every tech investment will be cheered by equity holders. Have manufacturers changed what chips they rely on as they’ve battled supply chains? Without a doubt, in 5 years technology will play an even bigger role in society and the economy, but it doesn’t mean that we haven’t already priced too much in. I see a potential problem in this market that it is radiating out. The local economies are incredibly interconnected. The homebuilder ETF (XHB) is up almost 20% in the past 3 months! This is a contrarian play that I probably should have gotten on board with, but this is an industry still in the early stages of digesting the spike in mortgage rates and overall loss of wealth in this country. I’m keeping an eye on this. We will get some clarity and resolution on the inventory side of the equation in the coming weeks as we get the regular data and we also have companies discussing it in detail. I’m not optimistic, but maybe this will be a pleasant surprise. Services could be the key. Was the print that we highlighted last weekend an anomaly or a harbinger of more bad news? Even as a bear on the economy, that data seemed surprisingly weak, so I expect something not quite so bad, but “less good” than most bulls are building into their forecast. What About Earnings? I will start by quoting my friend Peter Boockvar. He “guarantees” every quarter that about 70-75% of companies will beat earnings. His point, as I take it, is that expectations get pushed down to the point that most companies beat them, so there is little to be gleaned from the parade of “beats” that we will get. We will all be listening to how CEOs portray their vision for the rest of the year. Their views will mean a lot, but they usually do. My gut is that they will be more cautious than expectations, in part because some of the “wiggle” room that they had late last year has already been used. Also, they are in jobs where they want to outperform expectations, and even if your company is doing well, you might be cautious because you see companies around you going through tougher times. The one thing I “know” for certain is that we will get a lot of chatter about stock repurchases post earnings announcements and unless something changes, that will help support equities. It’s a Moving Picture, not a Snapshot The biggest mistake people may be making is looking at the data as though it is static. If we take a snapshot of recent data, it is easy to craft a “soft” landing narrative. But we don’t live in a static world. Decisions made months ago (on the policy side, on the household side, on the corporate side, etc.) take time to play out. It would be fun if economists could drive the economy like a jet ski, but it is a huge tanker, and once underway it is difficult to turn or even change speed. So, I 100% agree that the current data has a “soft” landing feel, but I don’t believe there is a chance that the weakening of economic data (alongside lower inflation) will stop here! We had to be setting up to “catch” the fall here, and if anything, we are still pushing on this well past the point we should be. Maybe I’m wrong here, but simple Newtonian physics tells us that an object, once set in motion, will stay in motion and that is what the Fed has done and we are going to blow right through the “soft” landing station and enter into some unsafe territory. Bottom Line Stocks Neutral. Own options that cost very little, but generate profits if the S&P 500 breaks 4,100 or 3,900 by the end of next week (yes, resolution will be rapid and I hope that I don’t miss it between now and when futures open, let alone in the actual market). “Gun to head” I’d bet that the rally continues and we test 4,200 on the S&P 500 which means I’ve got to get back on that bucking bronco (or I got off too early). We will break 2022’s lows, but that isn’t my gut for the next move. Rates The 10-year at 3.5% isn’t particularly appealing. We should see corporate issuance spike after earnings announcements. 3.5% is quite inverted versus the front end with a Fed that will hike at least 25 bps more. The BOJ won’t help things. Positioning has become a bit bullish on bonds (at least from the chatter I hear). So, even in my deflationary view, I would not be long 10s here. I like 5-years better than other points. It is “only” 3.6%, so not much of a pick-up, but I like the risk/reward better in 5s. Maybe, the 2-year is more obvious, but it has so little duration and if I’m right and the Fed won’t hike (but also won’t cut), then there isn’t a lot of room. For now, I’d be short Treasuries/sovereign debt. Yes, I think that deflation will be the discussion point of this quarter, but for now, I just don’t see much value in sovereign debt. Credit A “weird” barbell. I’m most concerned about leveraged loans (more so than high yield, because of the type of issuer that tapped that market, versus the bond market), but I like “senior” tranches of CLOs (anything IG rated and even BB). It is difficult to go lower in the cap structure of CLOs given the fact that the building blocks are my least favorite part of the credit market. Prices of various CLO tranches have bounced nicely in the past couple of months and new deals could accumulate some good collateral at really interesting levels. I’m “meh” on high yield and even investment grade. High yield is so hated but while it is interesting, the combination of rate risk and credit risk isn’t a screaming buy to me (though certainly more of a buy than leveraged loans). Investment grade is ok, but I think if Treasury yields rise, spreads will contract by 25% or so of the move in Treasuries, so I expect higher overall yields and lower dollar prices. If sovereign yields drop, spreads will widen on at least a 50% basis (if not closer to 100%). So, in a falling yield environment, IG yields won’t change much and dollar prices won’t do a lot (kind of a difficult risk/reward to pitch). So, I am equal weight IG and underweight sovereign debt. I am underweight leveraged loans and would use those funds to buy CLO tranches or some high yield bonds instead. That’s what I’ve got for now. Will be an interesting week or two and it is difficult being so bearish on the economy, but neutral (and maybe “gun to the head” bullish) on risk in the very short-term. Tyler Durden Sun, 01/15/2023 - 14:30.....»»

Category: blogSource: zerohedgeJan 15th, 2023

Here"s Why Everbridge (EVBG) Is a Great "Buy the Bottom" Stock Now

After losing some value lately, a hammer chart pattern has been formed for Everbridge (EVBG), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term. The price trend for Everbridge (EVBG) has been bearish lately and the stock has lost 8.8% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this software developer is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. What is a Hammer Chart and How to Trade It?This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for EVBGThere has been an upward trend in earnings estimate revisions for EVBG lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.Over the last 30 days, the consensus EPS estimate for the current year has increased 0.3%. What it means is that the sell-side analysts covering EVBG are majorly in agreement that the company will report better earnings than they predicted earlier.If this is not enough, you should note that EVBG currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for Everbridge is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Everbridge, Inc. (EVBG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Category: topSource: zacksDec 23rd, 2022

Jim Rickards: Paul Volcker"s Historic Mistake

Jim Rickards: Paul Volcker's Historic Mistake Authored by James Rickards via DailyReckoning.com, I’ve frequently said that forecasting Fed policy is easy. The Fed actually tells you what they plan to do in advance. This is the “no drama” Fed. All you have to do is listen to what they say and believe them. They don’t want to surprise markets or trigger any unexpected volatility. So they signal in advance and move accordingly. In reality, there’s a bit more to it than that. The Fed also signals through leaks to chosen reporters. You need to know which reporters are the chosen ones and what publications they write for. The Fed also rotates to new reporters from time to time so you have to be alert to any shifts. Still, it’s easy to know what’s coming if you know where to look and who to listen to. The hard part is knowing when the Fed is on the wrong course (they usually are) and when they will realize it (usually too late). Based on that, you can forecast how much harm the Fed will do and how badly the economy will be damaged before the Fed changes course. That’s more difficult and the timing can be tricky, but that’s the real art of Fed forecasting. Sorry, Wall Street With all that said, the Fed has announced two policies: The first is that they will raise interest rates 0.50% on December 14, just a few days away. The second is that they may continue raising rates for much longer than the market expects. The market keeps trying to rally on the Fed pivot narrative of lower rates, while Powell keeps trying to steer markets away from that narrative with his speeches. For example, stocks got a lift on Friday, December 2 when the November employment report showed declining real wages, declining hours worked, and declining labor force participation. The bulls cheered because that negative bit of news seemed to confirm their view that rate cuts are on the way. But it didn’t last. Powell has maintained a hawkish stance in a series of four high-profile speeches (August 26, September 21, November 2, and November 30), and now through press leaks. Powell’s Not Done I believe we should expect at least two more rate hikes. My estimate is a 0.50% rate hike on February 1, 2023 and a 0.25% rate hike on March 22. Those are the dates of the next two FOMC meetings. There’s another meeting on May 3. It’s too soon to form a good estimate of what the Fed will do in May, but Powell has not ruled out another rate hike then. But the economy will suffer a severe recession due to the rate hikes, and probably soon. Since the impact of monetary policy on the economy generally has a lag of maybe nine months to a year, we can expect the economy to be impacted by last year’s aggressive rate hikes in Q1 and Q2 of this year. But once we’re in a recession, rate cuts won’t do any good. Nor will QE. The recession will happen in a context of higher energy prices, supply chain disruption (it’s baaack), and a Chinese collapse. Good luck getting through that. In this scenario, Goldilocks gets eaten by the bears. The Fed will slam on the brakes on rate hikes and will probably have to cut rates by next June. Why won’t he cut rates sooner? The Volcker Mistake Jay Powell does not want to repeat the mistake of Paul Volcker, who also fought inflation with rate hikes, but cut rates too early and came to regret it. When Paul Volcker was appointed Fed Chair in 1979, he immediately set about ending the worst inflation the U.S. has seen since the end of World War II by raising rates. Then the U.S. was hit with a recession in January 1980. Unemployment rose to 7%. Inflation was still 14.7% in April 1980, but Volcker was under intense pressure to cut rates in the face of a recession and layoffs. The Fed blinked. Volcker lowered the fed funds target rate by 7 percentage points. The recession was over by July 1980, but inflation was not. Inflation at the end of 1980 was still over 12%. The Fed and Volcker had damaged their credibility as inflation fighters. This became known as the infamous Volcker Mistake. From there Volcker doubled down. Because of the credibility damage from the Volcker Mistake, interest rates had to go even higher. It was in this stretch that the fed funds target rate hit 20% in June 1981. This extreme level triggered another recession in July 1981, the second in two years. The 1981 – 1982 recession was the worst since the end of World War II, and interest rates were still 15% in the middle of 1982. The severity of that recession was not surpassed until the global financial crisis of 2008. The point is that when Volcker lowered rates in 1980, the job of beating inflation was not done. Inflation went even higher and Volcker had to take even more extreme measures finally to get it under control. “The Lesson for the Fed Today Is Obvious” If Volcker had ignored the 1980 recession, inflation might have come down by 1981. Instead, it lasted until 1983 and was only defeated by a recession worse than the one Volcker was initially worried about. The lesson for the Fed today is obvious. The Fed first ignored inflation in mid-2021 by calling it transitory. At the time, the Fed’s policy rate was 0%. The Fed’s battle against inflation began in March 2022 with a rate hike of 0.25%. Inflation rose at an annualized rate of 9.1% in June 2022, 8.5% in July, 8.3% in August, 8.2% in September, and 7.7% in October. In other words, inflation is coming down but at a painfully slow pace. The problem is that Powell may soon find himself facing exactly the dilemma that Volcker faced in May 1980 – the mission to lower inflation is not finished, but higher unemployment and a recession create enormous pressure to lower interest rates. The question for market observers and investors is: Will Jay Powell blink the way Volcker did in 1980? Will the Fed cut rates in a recession or keep up the inflation fight until it’s over? Powell Doesn’t Want to Repeat the Volcker Mistake The answer begins with the fact that Jay Powell does not want to repeat the Volcker Mistake. He knows how that turned out and doesn’t want to end up in the history books for the same thing. That means rate hikes will continue until March 2023 and possibly May, even in the face of declining growth and falling inflation. The Fed may pivot by June, but it will be too late. The recession will already be here — and Powell will have some really hard choices to make. Tyler Durden Fri, 12/23/2022 - 11:48.....»»

Category: blogSource: zerohedgeDec 23rd, 2022

Meta staff are hitting out at Mark Zuckerberg in Blind reviews because they think his metaverse obsession will "single-handedly kill" the company

Staff at the Facebook and Instagram owner flooded Blind with negative comments about their CEO on the day he axed 13% of its workforce. Mark Zuckerberg apologized on Wednesday for making 11,000 job cuts.Drew Angerer/Getty Images Meta employees are posting negative comments about Mark Zuckerberg on anonymous forum Blind. A software developer said Meta's CEO will "single-handedly kill" the company with the metaverse. The reviews were posted on the day that Meta axed 13% of its workforce and on the following day. Meta employees are taking aim at Mark Zuckerberg in employee reviews on Blind, the anonymous forum. Some reviews, posted on Wednesday – the day Meta laid off 13% of its workforce – are negative, although others are more positive. One user likened the layoffs to the "hunger games" and another said the Facebook owner had an "uncertain future." Insider surveyed the workplace community app, where staff can air their grievances in posts and reviews, to see what was being said about Meta and its CEO. Some 44 employee reviews of Meta were posted on Blind on Wednesday and Thursday this week. "The Metaverse will be our slow death," one user, who called themselves a senior software developer, posted on Wednesday. They added: "Mark Zuckerberg will single-handedly kill a company with the meta-verse." Zuckerberg apologized to staff for the need to cut 11,000 jobs, admitting that he "got this wrong". Blind users must provide their work email email address, job title and employer when joining the platform so the company can "gauge the professional status" of posters, according to its website.A user's employment is not officially verified, however. Blind said it occasionally sent prompts to users to "re-verify" their accounts. Rick Chen, head of public relations at Blind, told Insider: "Nearly all of the reviews posted have been written by current employees of the respective companies at the time of writing, as people generally cannot access Blind after they are laid off or resign." He added: "The loss of access after an employment change is not immediate." Meta employees have posted almost 6,000 reviews of the company on Blind since 2020 and it has a rating of 4 out of 5 stars.A self-described engineer, who gave the company five stars, listed "extremely smart and talented coworkers" as well as "great culture" in a list of "pros". Posting on the day the layoffs were made, they added that "Zuck is leading this company in the wrong direction" in their list of "cons". A user who says they are a data scientist said Meta is in "need of layoffs in executive level," adding: "Leadership is having no clue, they mistake motion for a progress." One person, who said they worked in talent acquisition, gave Meta a four-star rating on Wednesday. They said it was an "overall great place to experience" adding that "Mark is not afraid to take risks (which is a good and bad thing)." A poster, who says they are a senior technical program manager, wrote on Thursday: "Poor leadership is on track to sink this ship." They went on to list "good pay" perks, benefits and talented peers as "pros". The "cons" included: "No accountability at and above Director level. VPs and Directors are here to just milk the company without adding any value." They added: "I thought it was a data-driven company but actually it is one man's gut feeling and emotions-driven. Nobody can overwrite his decision." Not all Meta employees share the negative view of Zuckerberg, however. One former staff member who was laid off Wednesday told Insider that they felt the CEO handled the layoffs "with humanity". Another engineer gave the company just one star on Wednesday and described the mass cuts as the "worst layoff in history." They said: "With the layoff, I wouldn't recommend anyone to work there until the stock price fully recovers." Meta did not respond to a request for comment from Insider.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 11th, 2022

Progyny: A Love Child Of Accounting Games & Credit Risk – Jehoshaphat

Jehoshaphat Research is short shares of Progyny (NASDAQ:PGNY), a company they believe is deceiving the investor community via its financial reporting practices. These practices rely on complex accounting that PGNY appears to have been exploiting for years. We believe that PGNY recently has taken its aggression to a brazen level by secretively changing important accounting […] Jehoshaphat Research is short shares of Progyny (NASDAQ:PGNY), a company they believe is deceiving the investor community via its financial reporting practices. These practices rely on complex accounting that PGNY appears to have been exploiting for years. We believe that PGNY recently has taken its aggression to a brazen level by secretively changing important accounting policies that materially inflate profits. We calculate that PGNY is actually unprofitable, but masks this problem with accounting games. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2022 hedge fund letters, conferences and more   We believe the following accounting tricks have kept reported profits from going negative: Recently, by changing just one word in their SEC filings, Progyny management gave itself the ability to book profits based on “expected” results rather than “historical.” We calculate that this change added ~400bps to margins. The “expected” results management is using defy logic. PGNY also apparently decided recently to stop accruing allowances for customer cancellations, which we believe may have added up to another ~400bps to both revenues and gross profit margins. Progyny’s bad debt expense is enormous, despite a corporate customer base of high credit quality. We believe these “credit losses” are more like reversals of inflated revenues. PGNY may be pushing hundreds of basis points of gross margin into an opex line largely ignored by analysts. (And if we’re wrong about that, then PGNY simply has an enormous, unexplained credit quality problem.) We estimate that PGNY’s “real” gross margins are approximately low-teens (and dropping fast). We calculate the divergence with reported gross margins in the following graph: We estimate that Progyny’s “true” gross margins (red line on chart above) are in rapid decline. In our report we’ll discuss some of the reasons why we think that’s happening, as well as why optical gross margins are nice and stable. Gross margins are critical to the story about this being a business that will scale profitably. The business model flat-out does not work if the margins are not growing, and we think every investor in PGNY knows that. Once we adjust PGNY’s margins to remove the problems we’ve found, we see a company with no operating profits. Is this a business, or is a machine that moves money from investors to insiders? PGNY’s problems begin with a grossly misrepresented financial picture, but they don’t end there. Aside from the accounting anomalies that we’ve uncovered, we also find: Nonsense TAM hopes. The claimed TAM requires absurdities that fall apart under relatively modest examination. Reverse economies of scale. The business has reached a negative inflection point on customer type and scale, whereby new customers offer far less margin than old (low-hanging fruit has been picked). Overrecognizing revenues or credit time bomb? If we’re wrong and PGNY’s bad debt expense is really just plain old bad debt, then this company is effectively a concentrated-risk consumer lender. We dare analysts with Buy ratings to explain why this company has any bad debts, let alone big ones. Insider selling with information value. Certain informed insiders with phenomenal track records of trading PGNY stock have recently started dumping shares again. While tons of selling takes place continually by PGNY management, we think the information value is concentrated in a few sellers. Cash flows only positive because of stock issuance. We calculate that PGNY’s underlying cash flow is negative, but propped up by bizarrely large stock comp in place of cash comp. As the stock price has fallen, PGNY has simply issued more stock to pay the bills. Think about where this leads… To fact-check our document-based analysis we spoke to industry experts, including one former PGNY executive who never could figure out how the Company has reported such impressive numbers. Multiple industry experts also told us they couldn’t understand how Progyny has reported such high gross margins, given its low markups and the labor-intensive nature of its business model. In fairness, these benefits industry practitioners haven’t really tried to understand the arcane accounting policies this company uses to produce its financial statements. But we have! Have you? Bull Case: There is no shortage of bulls on Progyny - every sell-side analyst who covers PGNY has a Buy rating on it. To quote the analyst at Barclays who recently reiterated PGNY as their top coverage pick (emphasis ours): “It’s a margin growth story, and a revenue growth story with no debt and good cash flow…PGNY is experiencing the fastest top line growth amongst emerging business model peers, with potential for significant EBITDA margin expansion due to an acceleration in adoption of fertility benefits offered by employers, similar to mental health benefits… Our upside case considers the doubling of the fertility TAM to $13bn (from $7bn), a sticky customer base warranting a 1.0-1.5x EV/Sales premium and significant potential for EBITDA margin expansion by 2023E." While these claims are mostly wrong and we’ll talk about why, we think the bigger problems for PGNY are not contemplated by either bulls or bears. We believe that virtually all PGNY investors take it for granted that PGNY’s numbers can be trusted…and will be surprised to learn what we have discovered. It seems like analysts are also inclined to suspend their skepticism in general when dealing with this company, because it’s just doing such nice things! (It’s almost like you could call this business model “effective altruism.”) For instance: “And just to give a greater sense for people, and I love the mission of the company. I love the fact that you're really doing something that's good for the world.” – BofA analyst at a September 2020 conference “So -- and it's really very gratifying to know that the Progyny benefit is attractive and addresses real issues for companies kind of across that spectrum…They're trying to do the right thing by their employees.” - PGNY CEO at September 2021 BofA conference Aww. But it’s no surprise that the topic of fertility benefits makes otherwise skeptical people feel warm, fuzzy, and pliant. Any Handmaid’s Tale fans out there? A review of Season 5, Episode 5, reminds us of the power of misdirection. The men of Gilead are as unappealing and dry as the footnotes of an old 10-K…but when someone says “babies”… "[Serena Waterford] later tells [Commanders] Lawrence and Putnam that focusing the Toronto center on Gilead was a mistake – it should be set up as a fertility center instead. “It’s about the babies. That’s what people want to hear,” Serena says. “People will be clamoring to keep the doors open.” Commander Putnam is disinterested but he’s also dumb; Lawrence knows a good thing when he hears it, and he’s intrigued." Read the full report here by Jehoshaphat Research......»»

Category: blogSource: valuewalkDec 7th, 2022

Here"s Why Ziopharm (TCRT) Is a Great "Buy the Bottom" Stock Now

After losing some value lately, a hammer chart pattern has been formed for Ziopharm (TCRT), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term. The price trend for Alaunos (TCRT) has been bearish lately and the stock has lost 26.6% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this drug developer enhances its prospects of a trend reversal. What is a Hammer Chart and How to Trade It?This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Makes the Trend Reversal More Likely for TCRTThere has been an upward trend in earnings estimate revisions for TCRT lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 19.7% over the last 30 days. This means that the Wall Street analysts covering TCRT are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that TCRT currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, the Zacks Rank has proven to be an excellent timing indicator, helping investors identify precisely when a company's prospects are beginning to improve. So, for the shares of Ziopharm, a Zacks Rank of 2 is a more conclusive fundamental indication of a potential turnaround. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alaunos Therapeutics, Inc. (TCRT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Category: topSource: zacksDec 5th, 2022

Here"s Why EngageSmart (ESMT) Could be Great Choice for a Bottom Fisher

EngageSmart (ESMT) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term. Shares of EngageSmart (ESMT) have been struggling lately and have lost 12.4% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this customer engagement software developer enhances its prospects of a trend reversal. Understanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for ESMTThere has been an upward trend in earnings estimate revisions for ESMT lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 25.9% over the last 30 days. This means that the Wall Street analysts covering ESMT are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that ESMT currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for EngageSmart is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EngageSmart, Inc. (ESMT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 21st, 2022

"The Metaverse will be our slow death": Meta employees hit out at Mark Zuckerberg in Blind reviews

Staff at the Facebook and Instagram owner flooded Blind with negative comments about their CEO on the day he axed 13% of its workforce. Mark Zuckerberg apologized on Wednesday for making 11,000 job cuts.Drew Angerer/Getty Images Meta employees are posting negative comments about Mark Zuckerberg on anonymous forum Blind. A software developer said Meta's CEO will "single-handedly kill" the company with the metaverse. The reviews were posted on the day that Meta axed 13% of its workforce and on the following day. Meta employees are taking aim at Mark Zuckerberg in employee reviews on Blind, the anonymous forum. Some reviews, posted on Wednesday – the day Meta laid off 13% of its workforce – are negative, although others are more positive. One user likened the layoffs to the "hunger games" and another said the Facebook owner had an "uncertain future." Insider surveyed the workplace community app, where staff can air their grievances in posts and reviews, to see what was being said about Meta and its CEO. Some 44 employee reviews of Meta were posted on Blind on Wednesday and Thursday this week. "The Metaverse will be our slow death," one user, who called themselves a senior software developer, posted on Wednesday. They added: "Mark Zuckerberg will single-handedly kill a company with the meta-verse." Zuckerberg apologized to staff for the need to cut 11,000 jobs, admitting that he "got this wrong". Blind users must provide their work email email address, job title and employer when joining the platform so the company can "gauge the professional status" of posters, according to its website.A user's employment is not officially verified, however. Blind said it occasionally sent prompts to users to "re-verify" their accounts. Rick Chen, head of public relations at Blind, told Insider: "Nearly all of the reviews posted have been written by current employees of the respective companies at the time of writing, as people generally cannot access Blind after they are laid off or resign." He added: "The loss of access after an employment change is not immediate." Meta employees have posted almost 6,000 reviews of the company on Blind since 2020 and it has a rating of 4 out of 5 stars.A self-described engineer, who gave the company five stars, listed "extremely smart and talented coworkers" as well as "great culture" in a list of "pros". Posting on the day the layoffs were made, they added that "Zuck is leading this company in the wrong direction" in their list of "cons". A user who says they are a data scientist said Meta is in "need of layoffs in executive level," adding: "Leadership is having no clue, they mistake motion for a progress." One person, who said they worked in talent acquisition, gave Meta a four-star rating on Wednesday. They said it was an "overall great place to experience" adding that "Mark is not afraid to take risks (which is a good and bad thing)." A poster, who says they are a senior technical program manager, wrote on Thursday: "Poor leadership is on track to sink this ship." They went on to list "good pay" perks, benefits and talented peers as "pros". The "cons" included: "No accountability at and above Director level. VPs and Directors are here to just milk the company without adding any value." They added: "I thought it was a data-driven company but actually it is one man's gut feeling and emotions-driven. Nobody can overwrite his decision." Not all Meta employees share the negative view of Zuckerberg, however. One former staff member who was laid off Wednesday told Insider that they felt the CEO handled the layoffs "with humanity". Another engineer gave the company just one star on Wednesday and described the mass cuts as the "worst layoff in history." They said: "With the layoff, I wouldn't recommend anyone to work there until the stock price fully recovers." Meta did not respond to a request for comment from Insider.Read the original article on Business Insider.....»»

Category: dealsSource: nytNov 12th, 2022

Here"s Why Glaukos (GKOS) Could be Great Choice for a Bottom Fisher

After losing some value lately, a hammer chart pattern has been formed for Glaukos (GKOS), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term. A downtrend has been apparent in Glaukos (GKOS) lately. While the stock has lost 15.7% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this glaucoma treatments developer enhances its prospects of a trend reversal. Understanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Makes the Trend Reversal More Likely for GKOSThere has been an upward trend in earnings estimate revisions for GKOS lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.Over the last 30 days, the consensus EPS estimate for the current year has increased 3.3%. What it means is that the sell-side analysts covering GKOS are majorly in agreement that the company will report better earnings than they predicted earlier.If this is not enough, you should note that GKOS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for Glaukos is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Glaukos Corporation (GKOS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 7th, 2022

OncoCyte (OCX) Forms "Hammer Chart Pattern": Time for Bottom Fishing?

After losing some value lately, a hammer chart pattern has been formed for OncoCyte (OCX), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term. A downtrend has been apparent in OncoCyte (OCX) lately. While the stock has lost 10.1% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this cancer diagnostic test developer enhances its prospects of a trend reversal. Understanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for OCXAn upward trend in earnings estimate revisions that OCX has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That's because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.Over the last 30 days, the consensus EPS estimate for the current year has increased 4.6%. What it means is that the sell-side analysts covering OCX are majorly in agreement that the company will report better earnings than they predicted earlier.If this is not enough, you should note that OCX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for OncoCyte is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report OncoCyte Corporation (OCX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 26th, 2022

Wall Street strategists are torn on whether the stock market is about to crash or soar 20% ahead of next week"s Fed meeting. Here"s where 6 market experts stand.

History shows "premature easing could result in a fresh wave of inflation, and that market volatility in the short-run may be a smaller price to pay." Spencer Platt/Getty ImagesAhead of the Fed's anticipated interest rate hike next week, Wall Street investors are torn on the outlook for stocks.Some Wall Street strategists expect a sharp rebound in stocks by year-end as inflation cools off.That conflicts with the view of Ray Dalio and Scott Minerd, who say the S&P 500 can fall an additional 20%.Ahead of the Federal Reserve's highly anticipated 75 basis point interest rate hike next week, Wall Street is torn as to where the stock market is headed next.Concerns are growing that the Fed will over tighten interest rates at a time when the economy is showing signs of weakening, and that could lead to a massive stock market decline.But persistent inflation leaves some professional investors to believe that the Fed needs to ignore stock market volatility and maintain its credibility by continuing to raise rates until inflation shows adequate signs of cooling off."Lessons from the 1970's tell us that premature easing could result in a fresh wave of inflation, and that market volatility in the short-run may be a smaller price to pay," Bank of America's Savita Subramanian said on Friday.Here's where the bulls and bears of Wall Street stand on inflation, interest rates, and where the stock market is going into year-end ahead of next week's FOMC meeting.The Bears1. Ray Dalio: Expect a 20% sell-off in the stock market if rates keep rising.Bridgewater Associates hedge fund manager Ray Dalio.Eoin Noonan/Web Summit via Getty Images"With inflation well above what people and central banks want and the unemployment rate low, it's obvious that inflation is the targeted problem, so it's obvious that the central banks should tighten monetary policy. Everything will flow from that," Dalio said on Wednesday."I estimate that a rise in rates from where they are to about 4.5% will produce about a 20% negative impact on equity prices," Dalio said.2. Scott Minerd: A 20% decline in the S&P 500 could happen by mid-October.Guggenheim chief investment officer Scott Minerd.Photo by PATRICK T. FALLON/AFP via Getty Images"It's really stark to see the price-to-earnings ratio where it is... given where seasonals are, and how far out of line we are historically with where the p/e is, we should see a really sharp adjustment in prices very fast," Minerd said last week."It appears people are ignoring the macro backdrop, monetary policy backdrop, which would basically indicate that the bear market is intact. We may very well already be in a recession... with YoY core PCE now at 4.6% and S&P 500 trading at ~19x, we should see stocks fall another 20% by mid-October," Minerd said.3. Jeff Gundlach: The credit market suggests both the economy and stock market are in trouble. DoublelLine Capital founder Jeff Gundlach.Courtesy of Advisor Circle"The action of the credit market is consistent with economic weakness and stock market trouble. I think you have to start becoming more bearish," Gundlach said on Tuesday, adding that he agrees with Scott Minerd's call that stocks can fall 20% soon."You always want to own stocks, but I'm a little on the lighter side...buy long-term Treasurys, because the deflation risk — in spite of the fact that the narrative today is exactly the opposite — the deflation risk is much higher today that it's been for the past two years," Gundlach said. Gundlach believes the Fed should hike interest rates by just 25 basis points next week.The Bulls1. Tom Lee: Inflation has already peaked and that means you should buy stocks.Fundstrat founder Tom Lee.Cindy Ord/Getty Images"Even for those in the 'inflationista' camp or even the 'we are in a long-term bear' camp, the fact is, if headline CPI has peaked, the June 2022 equity lows should be durable," Lee said on Friday.August's higher-than-expected CPI report "does not mean stocks have to break below the June lows," Lee said, as he reiterated his view that S&P 500 will rally more than 20% to new highs by year-end.2. Jeremy Siegel: Inflation is falling and whoever wanted to get out of stocks already has.Wharton professor Jeremy Siegel is a long-time market commentator.REUTERS/Steve Marcus"It seems like everyone that wants to be out of the market is out, and everyone that wants to be tactical is short. Therefore the surprises are going to be to the upside... when everyone has sold, only the buyers are left, and the shorts are exposed," Siegel said on Monday.Siegel said if the Fed says rates will be higher for longer, "That would be a policy mistake. I think they're going to look at the economy, and I hope they understand what the statistics are and what on the ground inflation is." 3. Marko Kolanovic: The stock market will rally as inflation resolves itself. JPMorgan's chief global strategist Marko Kolanovic.Hollis Johnson/Insider"Given the lag it takes for rate hikes to work through the system, and with just one month before very important US elections, we believe it would be a mistake for the Fed to increase risk of a hawkish policy error and endanger market stability," Kolanovic said on Monday."Our expectation that the global economy will stay out of recession, increasing fiscal stimulus, and still very low investor positioning and sentiment should thus continue to provide tailwinds for risky assets, despite the more hawkish central bank rhetoric recently," Kolanovic said. Read the original article on Business Insider.....»»

Category: smallbizSource: nytSep 17th, 2022

Here"s Why Playa Hotels (PLYA) Could be Great Choice for a Bottom Fisher

After losing some value lately, a hammer chart pattern has been formed for Playa Hotels (PLYA), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term. The price trend for Playa Hotels & Resorts (PLYA) has been bearish lately and the stock has lost 8.8% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this developer and operator of all-inclusive resorts is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. What is a Hammer Chart and How to Trade It?This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Makes the Trend Reversal More Likely for PLYAThere has been an upward trend in earnings estimate revisions for PLYA lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.Over the last 30 days, the consensus EPS estimate for the current year has increased 35.7%. What it means is that the sell-side analysts covering PLYA are majorly in agreement that the company will report better earnings than they predicted earlier.If this is not enough, you should note that PLYA currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, the Zacks Rank has proven to be an excellent timing indicator, helping investors identify precisely when a company's prospects are beginning to improve. So, for the shares of Playa Hotels, a Zacks Rank of 2 is a more conclusive fundamental indication of a potential turnaround. Want to Know the #1 Semiconductor Stock for 2022? Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries. This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most. Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Playa Hotels & Resorts N.V. (PLYA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 2nd, 2022

Here"s Why OncoCyte (OCX) Looks Ripe for Bottom Fishing

OncoCyte (OCX) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term. Shares of OncoCyte (OCX) have been struggling lately and have lost 12.4% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this cancer diagnostic test developer enhances its prospects of a trend reversal. What is a Hammer Chart and How to Trade It?This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for OCXThere has been an upward trend in earnings estimate revisions for OCX lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.Over the last 30 days, the consensus EPS estimate for the current year has increased 12.1%. What it means is that the sell-side analysts covering OCX are majorly in agreement that the company will report better earnings than they predicted earlier.If this is not enough, you should note that OCX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for OncoCyte is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Want to Know the #1 Semiconductor Stock for 2022? Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries. This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most. Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report OncoCyte Corporation (OCX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 2nd, 2022

Here"s Why Coherus BioSciences (CHRS) Looks Ripe for Bottom Fishing

Coherus BioSciences (CHRS) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term. A downtrend has been apparent in Coherus BioSciences (CHRS) lately. While the stock has lost 13.7% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this drug developer enhances its prospects of a trend reversal. What is a Hammer Chart and How to Trade It?This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for CHRSThere has been an upward trend in earnings estimate revisions for CHRS lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 7.7% over the last 30 days. This means that the Wall Street analysts covering CHRS are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that CHRS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, the Zacks Rank has proven to be an excellent timing indicator, helping investors identify precisely when a company's prospects are beginning to improve. So, for the shares of Coherus BioSciences, a Zacks Rank of 2 is a more conclusive fundamental indication of a potential turnaround. Want to Know the #1 Semiconductor Stock for 2022? Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries. This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most. Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Coherus BioSciences, Inc. (CHRS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 2nd, 2022

Bellicum Pharmaceuticals (BLCM) Could Find Support Soon, Here"s Why You Should Buy the Stock Now

After losing some value lately, a hammer chart pattern has been formed for Bellicum Pharmaceuticals (BLCM), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term. Shares of Bellicum Pharmaceuticals (BLCM) have been struggling lately and have lost 12% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this drug developer enhances its prospects of a trend reversal. What is a Hammer Chart and How to Trade It?This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for BLCMAn upward trend in earnings estimate revisions that BLCM has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That's because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.Over the last 30 days, the consensus EPS estimate for the current year has increased 7.7%. What it means is that the sell-side analysts covering BLCM are majorly in agreement that the company will report better earnings than they predicted earlier.If this is not enough, you should note that BLCM currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for Bellicum Pharmaceuticals is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. This Little-Known Semiconductor Stock Could Lead to Big Gains for Your Portfolio The significance of semiconductors can't be overstated. Your smartphone couldn't function without it. Your personal computer would crash in minutes. Digital cameras, washing machines, refrigerators, ovens. You wouldn't be able to use any of them without semiconductors. Disruptions in the supply chain have given semiconductors tremendous pricing power. That's why they present such a tremendous opportunity for investors. And today, in a new free report, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most. It's yours free and with no obligation. >>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bellicum Pharmaceuticals, Inc. (BLCM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 25th, 2022

Everbridge (EVBG) May Find a Bottom Soon, Here"s Why You Should Buy the Stock Now

After losing some value lately, a hammer chart pattern has been formed for Everbridge (EVBG), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term. The price trend for Everbridge (EVBG) has been bearish lately and the stock has lost 6.7% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this software developer enhances its prospects of a trend reversal. What is a Hammer Chart and How to Trade It?This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for EVBGThere has been an upward trend in earnings estimate revisions for EVBG lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 36.8% over the last 30 days. This means that the Wall Street analysts covering EVBG are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that EVBG currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for Everbridge is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Everbridge, Inc. (EVBG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 22nd, 2022

Bears are Losing Control Over Monday.com (MNDY), Here"s Why It"s a "Buy" Now

Monday.com (MNDY) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term. Shares of Monday.com (MNDY) have been struggling lately and have lost 6.5% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this project management software developer is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. What is a Hammer Chart and How to Trade It?This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for MNDYThere has been an upward trend in earnings estimate revisions for MNDY lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 9.8% over the last 30 days. This means that the Wall Street analysts covering MNDY are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that MNDY currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for Monday.com is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Want to Know the #1 Semiconductor Stock for 2022? Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries. This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most. Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report monday.com Ltd. (MNDY): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksAug 17th, 2022

Here"s Why Minerva Neurosciences (NERV) Could be Great Choice for a Bottom Fisher

Minerva Neurosciences (NERV) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term. A downtrend has been apparent in Minerva Neurosciences (NERV) lately. While the stock has lost 27.9% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this biotech drug developer enhances its prospects of a trend reversal. Understanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Makes the Trend Reversal More Likely for NERVThere has been an upward trend in earnings estimate revisions for NERV lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 66.6% over the last 30 days. This means that the Wall Street analysts covering NERV are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that NERV currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for Minerva Neurosciences is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Minerva Neurosciences, Inc (NERV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 12th, 2022