Franklin Covey Co

Despite the Stage 2 advance and rising 50 SMA, the recent support failure at the short EMA zone signals distribution risk. Price has pulled back into the 9/21 EMA and is approaching the 50 SMA support area. The medium-term bullish trend remains intact but execution should be deferred until structural support is accepted. Key risks include failure of the EMAs, transition to Stage 3 distribution, and a break below the 50 SMA.

• ↑Q3 revenue $67.8M (+1% YoY), enterprise and education divisions +2%
• ↑Adjusted EBITDA $8.3M (+14% YoY) enhances operating leverage
• ↓Revenue up only 1% in Q3, signaling growth challenges