Small Cap Tech Equipment Growth Name Nears Breakout of Range
Fabrinet (FN) shares seeing a bull MACD crossover and are coiling in a tight pennant formation since October when it made new 52-week highs at 183 and now nearing a breakout through monthly value above 172.50 that would target a move to 180 and then retest of that 183 high. FN has strong support at 165 where monthly volume POC is at. Any break below 160 would invalidate the setup and shift the trend. FN is up about +33% YTD and could see window dressing into year end as well as a top performer in the Tech equipment space.