Down 24.3% in 4 Weeks, Here's Why You Should You Buy the Dip in Quanterix (QTRX)

Core Viewpoint - Quanterix Corporation (QTRX) has experienced a significant decline of 24.3% in its stock price over the past four weeks, but it is now in oversold territory, suggesting a potential 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 determine if a stock is oversold, with a reading below 30 typically indicating this condition [2]. - QTRX's current RSI reading is 28.07, indicating that the heavy selling pressure may be exhausting itself, which could lead to a reversal in the stock's trend [5]. Group 2: Fundamental Analysis - There is strong consensus among sell-side analysts regarding an increase in earnings estimates for QTRX, with the consensus EPS estimate rising by 23.3% over the last 30 days [7]. - An upward trend in earnings estimate revisions is generally associated with price appreciation in the near term, supporting the case for a potential turnaround [7]. Group 3: Analyst Ratings - QTRX 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 turnaround [8].