FIG (Figma) — Classic Double Bottom | IPO Hangover Ending?Figma, Inc. Class ABATS:FIGibraheeemzTechnical Setup: FIG has been in a sharp downtrend since its post-IPO euphoria, but price has now formed a classic double bottom at $16.60 — tested twice, defended twice, with today's bullish engulfing candle on strong volume providing the confirmation signal buyers needed. This is a textbook reversal structure. The double bottom at $16.60 is the line in the sand — as long as it holds, the path of least resistance is higher. $20.10 is the immediate resistance to clear, followed by $27.70 — a level that, if broken with conviction, would mark the shift from recovery to full trend reversal bullish. 🎯 Targets: $20.10 → $27.70 🛑 Invalidation: Daily close below $16.60 Fundamental Story — Strong Business, Punished Stock: The selloff has been driven by technicals and sentiment, not fundamentals — which remain exceptionally strong: Q1 2026 revenue grew 46% YoY to $333.4M — accelerating for the second consecutive quarter — with free cash flow of $88.6M and a 27% FCF margin. Full-year 2026 revenue guidance raised by $55M to $1.422B–$1.428B, with non-GAAP operating income guidance of $125M–$135M. Net Dollar Retention Rate hit 139% — Figma's highest ever — meaning existing customers are significantly expanding their usage. Paid customers surged 54% YoY to ~690,000, driven by AI product adoption across Figma Make, Figma Weave, and the broader intelligent canvas platform. The stock IPO'd at $33 in July 2025, surged to $140+ before declining ~80% to current levels — driven by lock-up expirations, insider selling, and sector rotation — not business deterioration. sec A 46%-growth AI design platform with $1.6B in cash, trading near IPO price after an 80% drawdown. The business hasn't changed — only the price has. The double bottom at $16.60 is where fundamentals and technicals finally align.