Cogent Communications Holdings Inc

CCOI remains in a Stage 4 decline characterized by lower highs and lower lows, with price trading below declining EMAs. The medium-term bias is bearish, but short-term conditions are extreme oversold without clear reversal signals, so selling is deferred into a bounce up toward the 9EMA/21EMA resistance zone. The primary risk is a relief rally from extreme oversold levels that could stall or reverse the downtrend.

• ↑Wavelength revenue +90.8% YoY to $13.6M, targeting 25% market share
• ↑EBITDA margin expanded to 29.3%, with management forecasting sequential margin gains
• ↓Sprint wireline revenue collapsed 64%, dragging overall top-line growth