American Public Education (APEI) Sees Hammerhead Chart Pattern: Time to Buy?
American Public Education, Inc. APEI has been struggling lately, but the selling pressure may end soon. This is because the APEI recently saw a hammer chart pattern that may signal that the stock is approaching a bottom.
What is a hammer chart template?
A hammer chart pattern is a popular technical indicator used in candlestick charts. 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 may suggest that the market has found a low point in the action and better days are ahead.
What’s more, earnings estimates have risen for this company, even despite sluggish trading lately. In the last 60 days alone, 2 estimates have increased, compared to none lower, while the consensus estimate has also moved in the right direction.
Estimates have actually risen so much that the title now has a Zacks No.1 (strong buy) rank, suggesting that this relatively unloved title may soon see a break-up. This will be especially true if the actions of the APEI can gain momentum from here and find a way to continue higher than this encouraging business development. You can see The full list of today’s Zacks # 1 Rank stocks here.
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You’ve known this company from its past glory days, but few would expect it to be ready for a monster turnaround. Fresh out of a successful repositioning and flush with A-List celebrity mentions, it could rival or overtake other recent Zacks stocks which are expected to double as Boston Beer Company which climbed + 143.0% in just a bit. more than 9 months and Nvidia which climbed + 175.9% in a year.
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