Down 15.4% in 4 Weeks, Here's Why Newmark Group (NMRK) Looks Ripe for a Turnaround

Core Viewpoint - Newmark Group (NMRK) has experienced a significant downtrend, with a 15.4% decline over the past four weeks, but is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1]. Group 1: Technical Analysis - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold conditions, with a reading below 30 typically indicating that a stock is oversold [2]. - NMRK's current RSI reading is 29.11, indicating that the heavy selling pressure may be exhausting itself, which could lead to a trend reversal [5]. Group 2: Fundamental Analysis - Analysts have shown strong agreement in raising earnings estimates for NMRK, with a 2.3% increase in the consensus EPS estimate over the last 30 days, suggesting potential price appreciation [7]. - NMRK 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 a potential turnaround [8].