FPS

FPS remains in a pronounced Stage 3 downtrend with clear lower highs and lower lows beneath declining EMAs. A minor bounce into the 9- and 20-day EMA has been firmly rejected, reinforcing supply control. The existing lower-high structure around the $31–32 zone offers a valid sell area, and timing conditions favor immediate bearish execution.

• ↑Q3 revenue jumped 103% YoY to $379M, backlog up 157% to $2B (2.3× book-to-bill)
• ↑Adjusted EBITDA rose 96% YoY to $85M, margin expanded 200 bps to 22.4%
• ↓Negative earnings yield and weak profitability factors may hinder returns