Lincoln Educational Services Corp

Stage 4 decline and active support failure in a sustained downtrend drive a medium-term bearish bias. Price is extended below sloping EMAs in an extreme oversold context, signaling relief rallies likely precede further declines. Prefer to trim into rallies toward the prior support floor turned resistance near the 9/21/50 EMA cluster. A decisive reclaim and close above those levels with follow-through would invalidate the bearish view.

• ↑Q1 2026 revenue $144M, up 22.5% YoY; adjusted EBITDA $15.5M, +84.7% YoY
• ↑Student starts +19.5% to >5,500 driven by skilled trades demand
• ↓Elevated leverage increases interest burden in a rising rate environment