Here's Why First Horizon (FHN) Looks Ripe for Bottom Fishing

Core Insights - First Horizon National (FHN) shares have declined by 5.3% over the past week, but a hammer chart pattern suggests potential support and a trend reversal [1][2] - Wall Street analysts are increasingly optimistic about FHN's future earnings, which supports the likelihood of a trend reversal [2][6] Technical Analysis - A hammer chart pattern indicates a potential bottom in price, characterized by a small candle body and a long lower wick, suggesting that selling pressure may be exhausting [3][4] - The occurrence of a hammer pattern at the bottom of a downtrend signals that bears may be losing control, indicating a possible trend reversal [4] Fundamental Analysis - Recent upward revisions in earnings estimates for FHN serve as a bullish indicator, correlating strongly with near-term stock price movements [6] - The consensus EPS estimate for the current year has increased by 0.2% over the last 30 days, reflecting analysts' agreement on improved earnings potential [7] Zacks Rank - FHN 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] - The Zacks Rank serves as a timing indicator, suggesting that FHN's prospects are beginning to improve, reinforcing the potential for a turnaround [8]