Forum Energy Technologies Inc (NYSE: FET)

Forum Energy Technologies, Inc. designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in two segments, Drilling & Subsea, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the subsea construction, drilling, well construction, completion, and intervention markets. The Production & Infrastructure segment designs and manufactures products, and provides related equipment and services to the well stimulation, production, and infrastructure markets.
Take a look at the 1-year chart of Forum (NYSE: FET) below with my added notations:

After FET’s 6-month decline, the stock began a rally. During the most recent 4-month stretch the stock has had a tendency of creating support and resistance levels at the increments of $2 (blue). For example, the most recent level of resistance was at $20, and that level was also a brief support once the stock broke above it. Next, $18 has popped up as both support and resistance as well. Lastly, both $16 and $22 have also been key to the stock.

The Tale of the Tape: FET just broke back above $22. A long trade could be made at that level with a stop placed under it. A short trade could be made on a break below $22 with the expectation of a fall down to the next $2 level at $20.
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