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Possible Bullish Inside Day Candle Pattern Detected for Formfactor Inc (NASDAQ:FORM)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Formfactor Inc (NASDAQ:FORM) based on the price action in the company's shares. Yesterday's price range of $13.28 and $13.70 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Formfactor Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Formfactor Inc share prices have been bracketed by a low of $11.10 and a high of $18.65 and closed yesterday at $13.70, 23% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

Formfactor Inc (NASDAQ:FORM) has potential upside of 26.7% based on a current price of $13.70 and analysts' consensus price target of $17.36. The stock should find resistance at its 200-day moving average (MA) of $14.90, as well as support at its 50-day MA of $13.59.

FormFactor Inc, designs, develops, and manufactures advanced semiconductor wafer probe cards. The Company's products are based on MicroSpring interconnect technology, which includes resilient spring-like contacts that are manufactured using micro-machining and scalable semiconductor-like wafer fabrication processes.

SmarTrend is tracking the current trend status for Formfactor Inc and will alert subscribers who have FORM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle formfactor inc

Ticker(s): FORM