CECO Environmental Corp

CECO is entrenched in a clear downtrend with a series of lower highs and lower lows beneath declining EMAs. Price sits below the 9/20/50 EMA cluster and is consistently rejected on rallies, indicating supply dominance. The medium-term bias under stage 3 conditions is bearish, and short-term timing favors execution into resistance at the EMAs. A Sell Now posture is recommended, engaging via rejection at the EMA zone.

• ↑Q2 revenue $285M (+54% YoY) with record orders of $799M (+191%).
• ↑Backlog exceeds $1.8B (+164% YoY); new orders +150% H1 YoY.
• ↓Leverage at 2.7x trailing EBITDA poses elevated debt risk.