Down -20.35% in 4 Weeks, Here's Why Manhattan Associates (MANH) Looks Ripe for a Turnaround

Core Viewpoint - Manhattan Associates (MANH) has experienced a significant decline of 20.4% over the past four weeks, but it is now positioned for a potential trend reversal as it is in oversold territory, with analysts expecting better earnings than previously predicted [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold stocks, with a reading below 30 typically indicating oversold conditions [2]. - MANH has an RSI reading of 22.31, suggesting that the heavy selling pressure may be exhausting, indicating a possible bounce back towards equilibrium [5]. Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts that earnings estimates for MANH have increased by 3.8% over the last 30 days, which often correlates with price appreciation in the near term [6]. - MANH 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 [7].