After Plunging 26.8% in 4 Weeks, Here's Why the Trend Might Reverse for Outset Medical (OM)

Group 1 - Outset Medical, Inc. (OM) has experienced a significant downtrend, with a stock decline of 26.8% over the past four weeks, but it is now in oversold territory, indicating a potential turnaround [1] - The Relative Strength Index (RSI) for OM is at 29.65, suggesting that the heavy selling pressure may be exhausting itself, which could lead to a trend reversal [5] - Analysts have raised earnings estimates for OM, with a 33.3% increase in the consensus EPS estimate over the last 30 days, indicating a potential for price appreciation [7] Group 2 - OM 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]