Hancock Whitney Could Find a Support Soon, Here's Why You Should Buy the Stock Now

Shares of Hancock Whitney (NASDAQ: HWC) have been struggling lately and have lost 5.1% 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.

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 holding company of Whitney Bank and Hancock Bank is a solid fundamental factor that enhances the prospects of a trend reversal for the stock.

Understanding Hammer Chart and the Technique 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 ...

https://www.benzinga.com/news/earnings/24/09/40856669/hancock-whitney-could-find-a-support-soon-heres-why-you-should-buy-the-stock-now