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

Core Viewpoint - Conduent (CNDT) has experienced a bearish trend with a 15.9% loss over the past week, but the formation of a hammer chart pattern suggests a potential trend reversal as buying interest may be increasing [1] Group 1: Technical Analysis - The hammer chart pattern indicates a possible bottom formation, suggesting that selling pressure may be subsiding [1] - A hammer pattern typically forms during a downtrend when the stock opens lower, makes a new low, and then closes near or above the opening price, signaling a potential loss of control by bears [2] - Hammer candles can appear on various timeframes and should be used alongside other bullish indicators for confirmation [2] Group 2: Fundamental Analysis - Recent upward revisions in earnings estimates for CNDT serve as a bullish indicator, with a 15.1% increase in the consensus EPS estimate over the last 30 days [3] - The company holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [3] - A Zacks Rank of 2 is a strong indicator of potential trend reversal, as it reflects improving company prospects [3]