Down -8.09% in 4 Weeks, Here's Why Steven Madden (SHOO) Looks Ripe for a Turnaround
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Steven Madden (SHOO) has experienced a significant decline of 8.09% over the past four weeks, placing it in oversold territory. The stock may be poised for a turnaround due to exhausted selling pressure and positive earnings estimate revisions by Wall Street analysts.
November 21, 2024 | 3:45 pm
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Steven Madden (SHOO) is in oversold territory after a 8.09% decline in 4 weeks. Analysts are raising earnings estimates, suggesting a potential trend reversal.
The stock's oversold status indicates that the selling pressure may have been overdone, and the consensus among analysts to raise earnings estimates suggests improved future performance. These factors combined increase the likelihood of a short-term price recovery.
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