Dycom Industries Inc

Stage 2 advancing regime remains intact with bullish medium- and long-term biases, but price is currently extended above rising 9/21 EMAs and into overbought territory, suggesting timing is unfavorable. A pullback into the EMA zone near prior structure offers a cleaner entry opportunity, so we defer and wait for a better re-entry point.

• ↑Q2 revenue $2.01B (+45.6% YoY) with 15.7% adjusted EBITDA margin
• ↑Record backlog of $12.2B (1.2× book-to-bill) underpins future growth
• ↓Heavy reliance on a few telecom clients could threaten revenue stability