Rocky Brands Inc

In a confirmed Stage 4 decline, the medium-term bias is bearish, with price well below the downward-sloping EMAs and a clear sequence of lower highs and lower lows on heavy distribution. While extreme oversold conditions and a bearish exhaustion signal hint at a potential near-term bounce, the broader downtrend pressure and EMA resistance suggest patience is required. Therefore, we defer execution and trim into rallies back toward the 9, 21, and 50 EMAs.

• ↑Q1 2026 net sales rose 9.1% YoY to $124.4M, led by retail and wholesale growth
• ↑Retail sales jumped 16.5% to $42.7M, driven by Extra Tough and Muck momentum
• ↓Net income fell to $1.3M in Q1 2026 from $4.9M a year ago, squeezing profits