Redwood Trust (RWT) Sees Trend Reversal Amidst Oversold Territory and Rising Earnings Estimates

Redwood Trust (RWT) has declined 11.4% in 4 weeks, but is now oversold and may be poised for a trend reversal. The stock's RSI reading is 25.85, indicating exhaustion of selling pressure. Additionally, a strong agreement among analysts in raising earnings estimates for the current year has led to an 18.8% increase in the consensus EPS estimate. With a Zacks Rank #2 (Buy), RWT is in the top 20% of ranked stocks and may see a price appreciation in the near term.