Twist Bioscience (TWST) Could Find a Support Soon, Here's Why You Should Buy the Stock Now

Core Viewpoint - Twist Bioscience (TWST) has shown a downtrend recently, losing 9.9% over the past week, but a hammer chart pattern suggests a potential trend reversal due to increased buying interest and optimism among analysts regarding future earnings [1] Group 1: Technical Analysis - The formation of a hammer chart pattern indicates a possible bottoming out, suggesting that selling pressure may be exhausting [1] - A hammer pattern typically forms during a downtrend when the stock opens lower, makes a new low, but then closes near or above the opening price, signaling a potential loss of control by bears [2] - Hammer candles can appear on various timeframes and should be used alongside other bullish indicators for confirmation [2] Group 2: Fundamental Analysis - Recent upward revisions in earnings estimates for TWST serve as a bullish indicator, with the consensus EPS estimate increasing by 11.2% over the last 30 days [3] - Analysts covering TWST are largely in agreement about the company's potential for better earnings than previously predicted, indicating strong market sentiment [3] - TWST holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which historically outperform the market [3]