Progress Software Corp

PRGS is in a Stage 1 consolidation building an early base with a Lockout Rally surge, but price sits near horizontal resistance and in extreme overbought territory. The medium-term bias is bullish given the constructive range and forced repricing dynamics, while the long-term trend remains sideways. Short-term execution readiness is neutral due to extension and sentiment extremes; look to participate on shallow pullbacks into the rising 9/21 EMA support zone.

• ↑Q2 revenue $253.5 M (+6.7% YoY) and EPS $1.62 vs $1.49 est.
• ↑Raised full-year outlook to $990M–$1.0B revenue and $6.09–$6.21 EPS.
• ↓Negative growth indicators cast doubt on sustaining Q2 momentum.