Ultra Clean Holdings Inc

Despite a relief bounce off the 200-day SMA and a Bearish Exhaustion inflection signal, price remains capped below the 20-day EMA within a broader Stage 3 correction. The medium-term bearish bias remains intact, so we will defer selling into the resistance zone around the 20-day EMA and prior swing lows for a higher-probability rejection.

• ↑Q2 revenue jumped 21% QoQ to $644.9 M, beating estimates
• ↑Operating margin rose to 7% on efficiency gains and mix
• ↓Negative earnings yield signals potential profitability challenges