Strong Bull Pennant Forms in Small Cap Tech Equipment Name
FormFactor (FORM) shares closed strong Monday up 4% on big volume in a mostly quiet overall market day and the stock finished just above the monthly value area high of 35 as it nears a very coiled breakout from the past 3 months. FORM has strong support at the 33-34 zone where it held a pullback after earnings last week saw a wide range candle print but seeing RSI lead higher into this tightening wedge. FORM is also at the Stifel Growth Conference this week on 11/8 so a catalyst potentially. The $2.7B small cap provider of test and measurement technologies has a strong weekly chart and an upside break above 36 can likely see the untested VPOC at 40.50 hit which is the 2022 yearly POC and a big magnet higher from here.