Oncolytics Biotech (ONCY) Loses -9.34% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Core Viewpoint - Oncolytics Biotech Inc. (ONCY) has experienced significant selling pressure, resulting in a 9.3% decline over the past four weeks, but analysts anticipate improved earnings ahead as the stock enters oversold territory [1] Group 1: Technical Analysis - The Relative Strength Index (RSI) is utilized to determine if a stock is oversold, with a reading below 30 typically indicating this condition [2] - ONCY's current RSI reading is 27.83, suggesting that the heavy selling may be exhausting itself and a trend reversal could be imminent [5] Group 2: Fundamental Analysis - Over the last 30 days, the consensus EPS estimate for ONCY has increased by 2.2%, indicating a positive shift in earnings expectations among analysts [6] - ONCY 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 near-term turnaround [7]