Grupo Aeroportuario del Centro Norte SAB de CV

OMAB is in a sustained Stage 4 decline, with price forming lower highs and lower lows and trading below declining short-term EMAs near multi‐month support. The medium‐term bias is bearish, but short‐term timing is neutral due to price at key support. Execution should be deferred, waiting for a bounce into the 9/21 EMA resistance zone for a rejection opportunity.

• ↑Q1 2025 passenger traffic rose 9.1%, led by Monterrey recovery.
• ↑Total revenues reached 14.1 B pesos; aeronautical revenue +12% YOY.
• ↓G&A expenses rose 14% YOY, pressuring EBITDA margins.