Innodata Inc

INOD remains in a confirmed Stage 4 decline with clear sequential lower highs and lower lows, trading below all key EMAs. Price is below the 9, 21, 50, and 200-day moving averages with no signs of structural repair despite extreme oversold readings. We will execute to sell into rallies at resistance zones around the 9/21 EMAs and the 200 DMA region.

• ↑Q1 revenue jumped 54% YoY to $90.1M; net income rose 90%.
• ↑Adjusted EBITDA reached ~$25M, highlighting strong operational efficiency.
• ↓Management warned some services won’t recur next quarter, risking swings.