Bonanza Creek Energy Inc. (BCEI) Sees Hammer Chart Pattern: Time to Buy?

Zacks

Bonanza Creek Energy Inc. (BCEI) has been struggling lately, but the selling pressure may be coming to an end soon. That is because BCEI recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.

Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. Estimates have actually risen so much that the stock now has a Zacks Rank #1 (Strong Buy) suggesting this relatively unloved stock could be due for a breakout soon.



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