Smith-Midland Corp

SMID remains in a clear Stage 4 decline with an active support failure signaling that buyers cannot absorb supply, driving lower highs and lows. The medium-term bias is bearish, favoring sell-side engagement on rallies into moving average and prior support-turned-resistance zones. Short-term conditions show price extended below key EMAs with accelerating downside momentum, so we defer execution until a pullback into resistance rather than chase the sell-off.

• ↑Secured $10M VDOT I-81 contract, backlog rose to $57.4M (up 6% QoQ)
• ↑Q2 dividend yield of 0.82% underscores consistent shareholder returns
• ↓Q2 2026 revenue fell 11% YoY to $23.4M; gross profit down 31% to $5.4M