FORMImpressive growth so far, the more so - it completed a nice Cup and Handle pattern.
I am in, although, not a very large size.
FORM trade ideas
Cup & Handle Pattern confirmed?I originally bought this stock early in 2019 thinking it was breaking out of the same pattern I'm illustrating now so I could be wrong again (I'm not buying more here), but I held through that initial shakeout and continue to hold and am encouraged by the recent price action in this stock. (I hold a small position in this stock - only 85 shares in my Roth IRA). Looks like it might finally be ready to go for the move I thought would originally happen. That said, there is an immediate long-term support resistance hurdle to cross just a couple dollars above current price. On the long-term chart which I'm using, you can see price is starting to get ahead of itself, it's getting pretty high above the uptrend line. I'm hoping that means it's starting to go parabolic, but usually it means a short-term pullback is in order. It's probably a lot of risk for a short-term investor but my initial stop loss would be just below $14. If price got below that it would be a very bad sign and likely a failure of this long-term chart pattern as it would break the uptrend line and break below the strong red candle from May 2019. I'm a long-term investor so I don't mind taking on more risk - I'm not playing for peanuts, I'm trying to hit home runs which usually take time and the everyday price swings don't get me going too much, I'm more concerned with the price action on the long-term chart pattern.
This is not advice, just a simple observation of a long-term chart pattern, I haven't really looked into the fundamentals of this stock at all and therefore, decide for yourself and trade at your own risk.
FORM MA Convergence Divergence MACD Histogram turned positiveThis is a Bullish indicator signaling FORM's price could rise from here. You may explore going long the stock or buying call options. I identified 49 similar cases where FORM's MACD histogram became positive, and 41 of them led to successful outcomes. Odds of Success: 84%.
Going long FORM!Hi everybody! I'm waiting for a good potential upmove in FORM! Lots of good long time support in this one, so I can afford to be patient if it doesn't work out quickly!
FORM - Formfactor Inc. - Swing IdeaFORM is in a long-term uptrend. Target = $18.40. Would look for entry when RSI reaches 60 level.
