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

Core Viewpoint - Hasbro (HAS) has shown a downtrend recently, losing 6.5% over the past four weeks, but 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 potential bottom in the stock price, suggesting that selling pressure may be exhausting and that bulls could be gaining control [2][5]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that the stock opened lower, made a new low, but closed near or above the opening price, signaling a possible reversal [4][5]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for Hasbro, which is a bullish indicator suggesting potential price appreciation in the near term [7]. - The consensus EPS estimate for Hasbro has increased by 0.2% over the last 30 days, indicating that analysts are optimistic about the company's earnings potential [8]. - Hasbro currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [9][10].