Inogen (INGN) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

Core Viewpoint - Inogen (INGN) shares have recently declined by 6.7% over the past week, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1] Group 1: Technical Analysis - The hammer chart pattern indicates a potential bottoming out, with reduced selling pressure and a possible shift in control from bears to bulls [2] - This pattern typically forms during a downtrend, where the stock opens lower, makes a new low, but then closes near or above the opening price, signaling a potential trend reversal [2] Group 2: Fundamental Analysis - There has been a positive trend in earnings estimate revisions for Inogen, with the consensus EPS estimate increasing by 9.9% over the last 30 days, indicating strong agreement among analysts about improved earnings potential [3] - Inogen holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which historically outperforms the market [3] - The Zacks Rank serves as a timing indicator, suggesting that Inogen's prospects are beginning to improve, further supporting the case for a potential turnaround [3]