National Vision Holdings Inc

Stage 2 advancing with persistent higher highs and lows supported by rising EMAs and constructive volume. Price is tightly tracking above the 9EMA/21EMA confluence, confirming continuation despite overbought readings. With no visible exhaustion and a low transition risk, we initiate a Buy Now posture, engaging on shallow pullbacks into the rising EMA zone. Core risks include overbought RSI/Options Score and potential failure to hold EMA support.

• ↑Q1 revenue $544M (+6.6% YoY) with adj operating margin up 210bp to 10.2%.
• ↑11 consecutive quarters of comp store sales growth indicate sustained higher-margin demand.
• ↓Q1 traffic declined 1.2%, with cash-pay customers notably lagging.