Bears are Losing Control Over Sendas Distribuidora S.A. Sponsored ADR (ASAI), Here's Why It's a 'Buy' Now
ASAIAssaí Atacadista(ASAI) Zacks Investment Research·2024-02-06 23:56

Shares of Sendas Distribuidora S.A. Sponsored ADR (ASAI) have been struggling lately and have lost 7.2% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.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 ...