Down -6.21% in 4 Weeks, Here's Why You Should You Buy the Dip in ING (ING)

Core Viewpoint - ING Groep (ING) has experienced a downtrend with a 6.2% decline in stock price over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to analysts' positive earnings outlook [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) for ING is at 26.75, indicating that the heavy selling pressure may be exhausting, which could lead to a price rebound [3]. - RSI is a momentum oscillator that helps identify oversold conditions when the reading falls below 30, allowing investors to spot potential entry opportunities [2]. Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts to raise earnings estimates for ING, resulting in a 0.7% increase in the consensus EPS estimate over the last 30 days, which typically correlates with price appreciation [4]. - ING holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a near-term turnaround [4].