Here's Why Enact Holdings (ACT) is Poised for a Turnaround After Losing -8.06% in 4 Weeks

Core Viewpoint - The heavy selling of ACT shares is nearing exhaustion, suggesting a potential trend reversal as indicated by its RSI reading of 29.26, which is in oversold territory [3][4]. Group 1: Stock Performance - ACT has experienced a downtrend with an 8.1% decline over the past four weeks due to excessive selling pressure [4]. - The stock is currently in oversold territory, which may lead to a turnaround as investors look for entry opportunities [4][5]. Group 2: Technical Indicators - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold conditions, with readings below 30 indicating potential price reversals [5]. - The current RSI reading for ACT is 29.26, suggesting that the stock is nearing a point of reversal [3][5]. Group 3: Analyst Sentiment - There is a strong consensus among sell-side analysts that ACT will report better earnings than previously predicted, leading to a 0.1% increase in the consensus EPS estimate over the last 30 days [6]. - ACT 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, indicating a favorable outlook for a near-term turnaround [6].