Full access to Entrepreneur for $5
Subscribe

Inter Parfums (IPAR) Sees Hammer Chart Pattern: Time to Buy?

Inter Parfums (IPAR) has been struggling lately, but the selling pressure may be coming to an end soon.

By
This story originally appeared on Zacks

Inter Parfums, Inc. IPAR has been struggling lately, but the selling pressure may be coming to an end soon. That is because IPAR recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.

- Zacks

What is a Hammer Chart Pattern?

A hammer chart pattern is a popular technical indicator that is used in candlestick charting. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer, and it can suggest that the market has found a low point in the stock, and that better days are ahead.

Other Factors

Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. In just the past 60 days alone 3 estimates have gone higher, compared to none lower, while the consensus estimate has also moved in the right direction.

Estimates have actually risen so much that the stock now has a Zacks Rank #1 (Strong Buy) suggesting this relatively unloved stock could be due for a breakout soon. This will be especially true if IPAR stock can build momentum from here and find a way to continue higher of off this encouraging trading development. You can see the complete list of today’s Zacks #1 Rank stocks here.



Zacks' Top Picks to Cash in on Artificial Intelligence

In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.

See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>



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

 

Inter Parfums, Inc. (IPAR): Free Stock Analysis Report

 

To read this article on Zacks.com click here.

 

Zacks Investment Research