Down 19.2% in 4 Weeks, Here's Why You Should You Buy the Dip in Inogen (INGN)

Core Viewpoint - Inogen (INGN) is experiencing significant selling pressure, with a 19.2% decline over the past four weeks, but is now positioned for a potential trend reversal as it enters oversold territory, supported by analysts predicting better-than-expected earnings [1] Technical Analysis - 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] - INGN's current RSI reading of 27.38 suggests that the heavy selling may be exhausting, indicating a possible bounce back towards equilibrium in supply and demand [5] Fundamental Analysis - There is strong consensus among sell-side analysts to raise earnings estimates for INGN, with a 5.3% increase in the consensus EPS estimate over the last 30 days, which often correlates with price appreciation [7] - INGN 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 indicating potential for a near-term turnaround [8]