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

Core Viewpoint - Gilat Satellite (GILT) has experienced a 6% decline in shares over the past week, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [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 signals that bears may have lost control, and the emergence of buying interest could lead to a trend reversal [4]. Fundamental Analysis - Recent upward revisions in earnings estimates for GILT serve as a bullish indicator, correlating strongly with near-term stock price movements [6]. - Over the last 30 days, the consensus EPS estimate for the current year has increased by 6.4%, indicating that analysts expect better earnings than previously predicted [7]. - GILT holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [8].