Nektar (NKTR) Could Find a Support Soon, Here's Why You Should Buy the Stock Now

Core Viewpoint - Nektar Therapeutics (NKTR) has experienced a decline of 11.5% in its stock price over the past four weeks, but the formation of a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging to counteract selling pressure [1][2]. Technical Analysis - The hammer chart pattern indicates a minor difference between opening and closing prices, with a long lower wick suggesting that the stock may have found support after a downtrend [3][4]. - This pattern typically signals that bears may have lost control, indicating a potential trend reversal when it occurs at the bottom of a downtrend [4]. Fundamental Analysis - There is rising optimism among Wall Street analysts regarding NKTR's future earnings, with a 0.1% increase in the consensus EPS estimate over the last 30 days, indicating agreement on the company's potential for better earnings [6][7]. - NKTR holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which historically outperforms the market [8].