AGCO (AGCO) sees hammer chart pattern: Time to buy?

AGCO Corporation AGCO has been struggling lately, but the selling pressure may end soon. This is because AGCO recently saw a hammer chart pattern that can signal that the stock is approaching a bottom.

What is a hammer chart template?

A hammer chart pattern is a popular technical indicator used in candlestick charts. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer and may suggest that the market has found a low point in the action and better days are ahead.

Other factors

What’s more, earnings estimates have risen for this company, even despite sluggish trading lately. In the past 60 days alone, 8 estimates have increased, compared to none lower, while the consensus estimate has also moved in the right direction.

Estimates have actually risen so much that the title now has a Zacks Rank 2 (buy), suggesting that this relatively unloved title may be breaking down soon. This will be especially true if AGCO stock can build momentum from here and find a way to continue higher than this encouraging business development. You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

Boom in infrastructure stocks will sweep America

A massive push to rebuild crumbling American infrastructure will soon be underway. It is bipartisan, urgent and inevitable. Billions will be spent. Fortunes will be made.

The only question is, “Are you going to jump into good stocks early when their growth potential is greatest?” “

Zacks published a special report to help you do just that, and today it’s free. Discover 7 special companies looking to make the most of the construction and repair of roads, bridges and buildings, as well as transporting goods and transforming energy on an almost unimaginable scale.

Download FREE: How to Profit from Trillions in Infrastructure Spending >>

Click to get this free report

AGCO Corporation (AGCO): Free share analysis report

To read this article on, click here.

Zacks investment research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Stories
what is SEISS and how to apply?