After Plunging 9.1% in 4 Weeks, Here's Why the Trend Might Reverse for Cardinal (CAH)

Core Viewpoint - Cardinal Health (CAH) has experienced a downtrend with a 9.1% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to analysts' positive earnings outlook [1] Group 1: Technical Indicators - The Relative Strength Index (RSI) is a momentum oscillator that indicates whether a stock is oversold, with readings below 30 typically signaling this condition [2] - CAH's current RSI reading is 27.62, indicating that heavy selling may be exhausting itself, which could lead to a price rebound [5] Group 2: Fundamental Analysis - Analysts have shown strong agreement in raising earnings estimates for CAH, with a 0.7% increase in the consensus EPS estimate over the last 30 days, which often correlates with price appreciation [7] - CAH 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 [8]