Constellation Software Inc

CNSWF remains in a long-term downtrend, but the Stage 2 advance is confirmed by active Devil’s Bargain and Higher Highs & Higher Lows patterns, showing strong demand and shallow pullbacks. However, price is overbought and extended above the rising EMAs with high Options Score, suggesting patience. We will stalk for shallow pullbacks into the 9/20 EMA zone to engage.

• ↑5% FX‐adjusted recurring revenue growth in Q4 2025
• ↑Stable 67% gross margin and 27.5% operating margin
• ↓P/E of 51.98 vs. peers implies stretched valuation