AEON Biopharma, Inc. (AEON) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

Core Viewpoint - AEON Biopharma, Inc. has experienced a significant downtrend, losing 61% of its stock value over the past four weeks, but a hammer chart pattern suggests a potential trend reversal due to increased buying interest and positive earnings estimates from analysts [1]. Group 1: Technical Analysis - The formation of a hammer chart pattern indicates a possible bottoming out of the stock, suggesting that selling pressure may be exhausting [1]. - A hammer pattern occurs when a stock opens lower, makes a new low, but then closes near or above its opening price, signaling a potential loss of control by bears [2]. Group 2: Fundamental Analysis - There has been a positive trend in earnings estimate revisions for AEON, with the consensus EPS estimate increasing by 15.4% over the last 30 days, indicating bullish sentiment among analysts [3]. - AEON holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [3]. - The Zacks Rank serves as a timing indicator, suggesting that AEON's prospects are beginning to improve, reinforcing the potential for a turnaround [3].