FORM wave count FormFactor, Inc.BATS:FORMjackieeeeeeeeeFORM remains in a strong higher-timeframe uptrend, and my current wave count treats the recent pullback as a potential wave (4) correction inside the larger wave 5 advance. After breaking above the prior 106 area, price accelerated into the 159 resistance / 0.5 Fib extension zone, where supply appeared and triggered an ABC-style pullback. The key area to watch is the 127–132 demand zone: if price holds this zone and reclaims 145–151, the bullish structure remains intact and could set up a wave (5) move back through 159, with 238 as the stronger 1:1 extension target where the larger wave 5 would match the length of wave 3. However, a clean break below 127 would weaken the wave (4) thesis, and losing 106 would suggest the larger five-wave move may already be complete. Fundamentally, FORM remains one of the cleaner AI testing-chain names, with direct exposure to probe cards, wafer probing, HBM testing, advanced packaging, and future silicon photonics / CPO test demand. As AI chips, HBM, and chiplet-based packaging become more complex, test intensity increases, which supports FORM’s long-term positioning.