Douglas Dynamics Inc

PLOW remains in a Stage 4 LH/LL decline despite a minor bounce, with price consolidating just above flat short-term EMAs. The medium-term bias is bearish due to distribution pressure and failed recovery attempts, and short-term timing is neutral as no clear exhaustion or breakout signal has emerged. The recommended approach is to defer selling into rallies around the 9/21/50 EMA cluster, expecting rejection at resistance while watching for a breakdown below the EMA zone to confirm renewed downside.

• ↑Q2 net sales $214.6M (+10% YoY); full-year revenue guidance upped to $765–805M.
• ↑Record adjusted EBITDA of $44.6M driven by operational efficiency and solid backlog.
• ↓Commercial segment demand softens as end users delay spending.