StepStone Group Inc

STEP remains in a Stage 2 corrective advance within its long-term uptrend. The medium-term tradable side is bullish as the corrective base shows higher lows and rallies with volume. In the short term, price recently pulled back into the rising 9/21 EMAs and held before resuming strength, and RSI sits below overbought. We look to engage on this pullback support into the EMA zone, buying now while monitoring resistance at the 50 SMA and the moderate risk of a Stage 3 transition if rallies repeatedly fail.

• ↑Fee-related earnings rose 12% YoY to $105 M at a 40% margin.
• ↑Core FRE ex-retro fees reached $101 M, up 28% YoY.
• ↓GAAP net loss of $7.8 M reflects weak profitability.