Profound Medical (PROF) Forms 'Hammer Chart Pattern': Time for Bottom Fishing?

The price trend for Profound Medical (PROF) has been bearish lately and the stock has lost 12.3% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that ...