FET's Technical Breakout Potential: A Momentum Trader's Guide to Critical Levels and Market Catalysts in November 2025

In November 2025, Forum Energy Technologies (FET) stands at a pivotal juncture, balancing robust operational momentum against lingering macroeconomic headwinds. Recent developments, including a high-impact contract win and strategic capital returns, have positioned the stock for potential technical breakouts. This analysis synthesizes fundamental catalysts with inferred technical dynamics to map FET's critical price levels and momentum opportunities.

Fundamental Catalysts Driving Technical Momentum

FET's Q3 2025 earnings report revealed a compelling narrative of resilience. Despite a 10% revenue decline in the U.S. market due to lower rig counts, the company reported $196 million in revenue, with EBITDA surging to $23 million-a 150-basis-point margin improvement to nearly 12%, according to Fool's earnings transcript. Share repurchases totaling 5% of outstanding shares in Q3 underscore management's confidence in undervaluation, a factor often reflected in technical support levels as investor sentiment stabilizes, as noted in GuruFocus highlights.

A critical catalyst emerged in January 2025: FET secured a contract to deliver a Perry XLX EVO II ROV system and a Dynacon LARS to ACSM, a global maritime operator. Scheduled for Q3 2025 delivery, this deal signals growing demand for FET's subsea solutions, potentially acting as a psychological price floor as market participants anticipate revenue inflows, as reported in OEDigital's news.

Inferred Technical Levels and Breakout Potential

While direct technical indicators like RSI and MACD remain undisclosed in recent analyses, FET's fundamentals suggest actionable insights. For instance, the share repurchase program (8% of outstanding shares annually) has historically acted as a support mechanism, potentially reinforcing a key price level, as noted in the Fool's transcript. Momentum traders might identify consolidation patterns near this inferred support, with a breakout above prior resistance likely to trigger a rally.

The Q3 2025 delivery of the Perry XLX EVO II ROV system could serve as a dual catalyst: operational execution validates the company's market positioning, while the associated revenue could push the stock beyond a critical psychological threshold, as noted in the OEDigital news. Historical price action often reflects such events, with earnings surprises and contract milestones acting as breakout triggers.

Momentum Strategy: Positioning for a Q3 Breakout

A momentum-driven approach would prioritize entry points near the inferred support level, with a stop-loss below to mitigate downside risk. Given FET's 12% EBITDA margin improvement and strategic capital returns, a bullish case emerges if the stock closes above its 52-week high-a level often correlated with renewed institutional interest, as noted in the Fool's transcript.

However, traders must remain cautious. Tariff volatility on steel imports and Indian exports continues to pose operational risks, as noted in the Fool's transcript, which could create short-term pullbacks. A prudent strategy would involve scaling into positions as the stock tests key levels, leveraging volume spikes as confirmation signals.

Conclusion

FET's technical trajectory in November 2025 hinges on its ability to convert Q3 operational milestones into sustained price momentum. While direct technical indicators are sparse, the interplay of strong earnings, strategic buybacks, and the ACSM contract creates a compelling case for breakout potential. Investors should monitor the Q3 delivery timeline and volume patterns for confirmation of a sustained upward trend.