Skyward Specialty Insurance Group Inc

SKWD has entered a Stage 3 decline with a bearish medium-term outlook after the early-August support failure through the 20-day EMA. While the long-term uptrend above the 200-day SMA remains intact, price is currently stabilizing at the 50-day EMA. We will defer execution and look to trim on a failure to reclaim and reject the 9- and 20-day EMAs.

• ↑Q1 revenue $50 M (+39% YoY) with adjusted EPS $1.25 vs $0.90 last year
• ↑Gross written premiums rose 10% YoY, led by A&H and agricultural divisions
• ↓Profitability remains challenged despite revenue gains; combined ratio still near 90%