After Plunging -5.75% in 4 Weeks, Here's Why the Trend Might Reverse for Ross Stores (ROST)

Core Viewpoint - Ross Stores (ROST) has experienced a downtrend with a 5.8% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to analysts' positive earnings outlook [1]. Technical Analysis - The Relative Strength Index (RSI) is a key technical indicator used to determine if a stock is oversold, with a reading below 30 typically indicating this condition [2]. - ROST's current RSI reading is 29.42, indicating that the heavy selling pressure may be exhausting, and a trend reversal could be imminent [5]. Fundamental Analysis - There is a strong consensus among sell-side analysts regarding ROST's earnings estimates, with a 0% increase in the consensus EPS estimate over the last 30 days, suggesting potential price appreciation [6]. - ROST holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, further indicating a favorable outlook for a near-term turnaround [7].