Date: May 13, 2025
FORM is finally breaking free from its long consolidation. After a textbook accumulation phase, we’re seeing a clean breakout above the $2.75 horizontal resistance, supported by rising volume and a strong RSI push into overbought territory.
📊 Technical Snapshot:
Breakout Level: $2.75 – now flipped from resistance to support.
EMA Alignment: Price is riding the 4EMA (black) with the green MA catching up, signaling strong short-term momentum.
Volume Surge: Increased buy volume confirms breakout interest.
📈 Entry Ideas:
Breakout entry: Current price zone around $2.83.
Retest entry: On a pullback to the breakout level ($2.70–$2.75) for confirmation and safer risk management.
🧷 Validation:
Setup remains valid as long as price holds above the $2.60 area.
A close below that would re-enter previous range and weaken bullish structure.
🎯 Target Zones:
TP1: $3.89 – previous structural resistance and measured move from consolidation.
TP2: $4.07 – psychological round number + upper liquidity level.
TP3: $5.00 zone – ambitious but realistic if momentum continues and volume expands.
📈 RSI Check: Sitting at 73 – bullish strength confirmed, but watch for short-term cooling or retest before next leg.
🧠 Final Thoughts: FORM is showing strong structural alignment with volume and momentum support. A healthy pullback could offer the next best opportunity before aiming for higher levels. Momentum traders will want to watch this closely.
Good trading!!
Trade active
going very good on re accumulation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.