After Plunging -12.22% in 4 Weeks, Here's Why the Trend Might Reverse for ABM Industries (ABM)
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ABM Industries (ABM) has experienced a significant decline of 12.22% over the past four weeks. However, the stock is now in oversold territory, and Wall Street analysts are revising earnings estimates higher, suggesting a potential trend reversal.
December 24, 2024 | 3:45 pm
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ABM Industries has seen a 12.22% decline in its stock price over the last four weeks. The stock is now considered oversold, and analysts are revising earnings estimates upwards, which could lead to a trend reversal.
The stock's oversold status indicates that the selling pressure may have been overdone, and the upward revision of earnings estimates by analysts suggests improved future performance. These factors combined increase the likelihood of a positive price movement in the short term.
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