Published on 25 Apr 2023 on Zacks via Yahoo Finance
PolarityTE, Inc. (PTE) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now
Shares of PolarityTE, Inc. (PTE) have been struggling lately and have lost 26.6% over the past four weeks. 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 company is a solid fundamental factor that enhances the prospects of a trend reversal for the stock.
