Down -5.14% in 4 Weeks, Here's Why You Should You Buy the Dip in WEC Energy (WEC)

Core Viewpoint - WEC Energy Group (WEC) has experienced a downtrend with a 5.1% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to analysts' positive earnings outlook [1][5][6]. Group 1: Technical Indicators - The Relative Strength Index (RSI) for WEC is at 15.66, indicating that the heavy selling pressure may be exhausting, which could lead to a price rebound [5]. - RSI is a momentum oscillator that helps identify oversold conditions, typically when the reading falls below 30 [2][3]. Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts to raise earnings estimates for WEC, resulting in a 0.2% increase in the consensus EPS estimate over the last 30 days [6]. - WEC 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 strong potential for a near-term turnaround [7].