After Plunging -17.4% in 4 Weeks, Here's Why the Trend Might Reverse for First Industrial Realty Trust (FR)

Core Viewpoint - First Industrial Realty Trust (FR) has experienced a significant decline of 17.4% over the past four weeks, but it is now in oversold territory, suggesting a potential for a turnaround as analysts expect 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]. - FR's current RSI reading is 29.79, indicating that the heavy selling pressure may be exhausting, which could lead to a price rebound [5]. - Stocks oscillate between overbought and oversold states, and the RSI helps investors identify potential reversal points [3]. Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts regarding an increase in earnings estimates for FR, with a 0.4% rise in the consensus EPS estimate over the last 30 days [7]. - An upward trend in earnings estimate revisions is generally associated with price appreciation in the near term [7]. - FR holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate trends and EPS surprises, indicating a strong potential for a turnaround [8].