IdaCorp (IDA) Loses -7.28% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Core Viewpoint - IdaCorp (IDA) has experienced a significant downtrend with a 7.3% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to analysts' positive earnings outlook [1][3]. Group 1: Stock Performance and Analyst Sentiment - The stock has faced excessive selling pressure, leading to a decline of 7.3% in the last month [1]. - Analysts have raised earnings estimates for IDA, resulting in a 0.1% increase in the consensus EPS estimate over the past 30 days, indicating a potential for price appreciation [3]. - IDA 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 turnaround [3]. Group 2: Technical Indicators - The Relative Strength Index (RSI) is utilized to identify oversold conditions, with a reading below 30 typically indicating that a stock is oversold [4]. - IDA's current RSI reading is 28.8, suggesting that the heavy selling may be exhausting itself and a trend reversal could be imminent [5].