Here's Why Tencent Music Entertainment Group (TME) is Poised for a Turnaround After Losing -12.04% in 4 Weeks

Core Viewpoint - Tencent Music Entertainment Group (TME) has experienced a 12% decline in stock price over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround as analysts expect better earnings than previously predicted [1]. Group 1: Stock Performance - TME's stock has faced significant selling pressure, leading to a 12% decline in the last month [1]. - The stock is currently considered oversold, indicated by an RSI reading of 29.31, suggesting that selling may be exhausting [3]. Group 2: Analyst Sentiment - There is strong consensus among sell-side analysts to raise earnings estimates for TME, with a 1.6% increase in the consensus EPS estimate over the last 30 days [4]. - TME 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 [4]. Group 3: Technical Indicators - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold conditions, with a reading below 30 typically indicating a stock is oversold [2]. - The RSI helps investors identify potential entry points for stocks that may rebound after unwarranted selling pressure [2].