Otis Worldwide Corp

OTIS remains in an early Stage 1 consolidation with a momentum breakout signaling increasing demand, but price is extended above the rising 9/20 EMA and 50 DMA without a clean retracement. While medium-term bias is bullish, execution should be deferred for a pullback into the breakout zone around the short-term EMAs before engaging.

• ↑Service sales rose 5% organic in Q1; net sales $3.6B.
• ↑Modernization backlog jumped 30% CCY, underpinning future revenue.
• ↓New equipment orders fell 1% in Q1; China orders down 15%.