Down 19.4% in 4 Weeks, Here's Why MillerKnoll (MLKN) Looks Ripe for a Turnaround

Core Viewpoint - MillerKnoll (MLKN) has experienced a significant downtrend, with a 19.4% decline in stock price over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold conditions, with a reading below 30 indicating that a stock may be oversold [2]. - MLKN's current RSI reading is 28.01, suggesting that the heavy selling pressure may be exhausting, indicating a possible bounce back towards previous supply and demand equilibrium [5]. Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts regarding MLKN, with a 3.3% increase in the consensus EPS estimate over the last 30 days, which typically correlates with price appreciation in the near term [7]. - MLKN 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].