Pitney Bowes Inc

In a Stage 2 advance within an established uptrend, PBI maintains medium-term bullish structure with persistent higher highs and rising EMAs, but extreme overbought conditions and price extended above the 9EMA/21EMA suggest near-term timing is unfavorable. We will stalk for pullbacks into the rising 9EMA/21EMA support area for optimal entry.

• ↑Q1 free cash flow of $43.5M vs expected $14M outflow highlights momentum.
• ↑Dividend rose 33% YoY; current yield 2.28% with a 24% payout ratio.
• ↓Q1 revenue declined 3.2% YoY to $477.4M, reflecting core sales pressure.