Viavi Solutions Inc

Following a sustained Stage 4 decline, VIAV remains tradable only to the downside, but a small exhaustion bounce off 200DMA support has lifted price away from immediate lows. Medium-term bias is bearish within the downtrend structure, while short-term timing has softened, requiring patience for rallies into the 9/20/50 EMA region before selling. Execution should focus on trimming exposure into the resistance zone, allowing failed tests of overhead EMAs to confirm continued supply dominance.

• ↑Q3 revenue $406.8M (+42.8% YoY) exceeded guidance by 5.3%
• ↑Operating margin rose to 21% from 17.6% a year ago
• ↓Stock trades at high multiples, signaling potential overvaluation