Walker & Dunlop Inc

WD is in a sustained downtrend confirmed by a decisive breakdown below support and sequential lower highs/lows, signaling continued selling pressure. Price is currently rejected at the confluence of the 9 and 20 EMAs around the mid-40s, reinforcing bearish execution timing. Medium-term directional bias remains bearish under Stage 4 decline, while short-term behavior confirms unfavorable conditions for bulls. Execution is recommended on rallies into the EMA resistance zone.

• ↑Q1 volumes surged 94% YoY to $13.7B; core EPS +3% to $1.19
• ↑Multifamily demand strong as owning home costs 20% more than renting
• ↓Leverage elevated, raising debt service pressure amid rising rates