Orion SA

OEC remains entrenched in a Stage 4 downtrend with sequential lower highs and lower lows beneath all major moving averages. The medium-term bias is firmly bearish, restricting engagement to sell-side continuation, and short-term timing favors participation on weakness given price below declining EMAs despite oversold conditions. Execution is focused on breakdowns of recent lows or rallies into the overhead EMA/SMA cluster.

• ↑Q2 revenue $500.9M (+7.9% YoY) beat estimates by 5.6%
• ↑EPS $0.14 vs $0.11 est, a 27% surprise
• ↓Net debt $961M; net debt/EBITDA 4.4x strains liquidity