- Oops!Something went wrong.Please try again later.
CBTX, Inc. CBTX has been struggling lately, but the selling pressure may be coming to an end soon. That is because CBTX recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.
What is a Hammer Chart Pattern?
A hammer chart pattern is a popular technical indicator that is used in candlestick charting. 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 it can suggest that the market has found a low point in the stock, and that better days are ahead.
Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. In just the past 60 days alone 1 estimate has gone higher, compared to none lower, while the consensus estimate has also moved in the right direction.
Estimates have actually risen so much that the stock now has a Zacks Rank #2 (Buy) suggesting this relatively unloved stock could be due for a breakout soon. This will be especially true if CBTX stock can build momentum from here and find a way to continue higher of off this encouraging trading development. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CBTX, Inc. (CBTX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research