HealthStream Inc

The medium-term rally remains intact with rising EMAs and constructive higher highs/lows, but the primary pattern of Bullish Exhaustion combined with overbought readings suggests a short-term pullback risk. The long-term downtrend below the 200 DMA persists, keeping long-term bias bearish. Entries should be deferred until a pullback into the rising 9/21 EMA zone confirms support.

• ↑Q1 revenue of $81.2M (+10.5% YoY); adjusted EBITDA $20.1M (+24.1%).
• ↑Free cash flow $19.7M funds $7.5M buyback and 0.14% dividend yield.
• ↓Legacy credentialing and scheduling revenue fell 16%, eroding topline stability.