Scansource Inc

SCSC remains in a robust Stage 2 advancing uptrend marked by successive higher highs and higher lows above rising EMAs. However, price is extended well above the 9/20/50 EMAs with extreme overbought readings, making fresh entries unfavorable. We opt to stalk, waiting for a pullback into the rising EMA support zone for more favorable execution. Medium-term bias remains bullish on sustained demand dominance.

• ↑Q3 free cash flow $69M, YTD $119M; minimal debt leverage
• ↑$33M share buyback this quarter; $146M authorization remains
• ↓Net sales fell 6% y/y; Brazil sales plunged 90%