FormFactor Inc

FORM is in a Stage 4 decline, with medium-term bearish bias confirmed by a Support Failure pattern and a sequence of lower highs and lower lows. Price trades below declining EMAs and rallies are rejected at the broken support zone near the 9/21 EMA cluster, creating favorable conditions for downside continuation. We recommend selling now into the resistance area formed by the prior support band.

• ↑Q1 2026 revenue reached $226.1M with non-GAAP gross margin of 49% (+510 bps qoq)
• ↑DRAM probe card sales to benefit from rising HBM4 demand driving record revenue
• ↓P/E of 90.2 vs tech sector average 75.3 signals potential overvaluation