Estee Lauder Companies Inc

The stock remains in an early Stage 1 consolidation after a downtrend, with flat short EMAs acting as resistance and no clear breakout. Structural weakness persists, keeping the medium-term bias bearish. Short-term price is neutral, tracking the 9/21 EMAs within the range. We recommend trimming exposure on rallies into the EMA zone and prior resistance rather than initiating new positions.

• ↑Operating margin rose 360 bps to 15% via PRGP cost savings
• ↑Gross margin improved to 76.4%, reflecting higher efficiency
• ↓EPS fell 42% YoY to $0.91, highlighting profit headwinds