Papa John's International Inc

PZZA remains in a Stage 4 decline with price below falling EMAs and active bearish patterns. A support failure and ongoing lower highs/lower lows confirm medium-term bearish bias, and short-term rejections at dynamic resistance suggest selling rallies into EMAs now to align with the downtrend.

• ↑International comps +1.5%, driven by 10% UK growth
• ↑Loyalty program at 42M members; loyalty orders yield +6% ticket value
• ↓North America comps down 8.3%, driven by lower order volume