📍 Ticker: 
PRMB (Primo Brands Corporation)
📆 Timeframe: 1W (Weekly)
📉 Price: $28.84
📊 Volume: 32.38M
📈 RSI: 40.95 (Bearish momentum, nearing bounce zone)
🔍 Technical Setup:
PRMB has broken below a steep sub-channel and is targeting the midline and base of a broader long-term ascending channel, offering a high-reward opportunity for medium-term traders.
📉 Short-term trend: Bearish correction
📈 Long-term trend: Still intact within rising channel
📍 Support zone: $20.70 – multi-year horizontal + lower channel convergence
📊 RSI: Oversold territory, potential for bullish divergence
🧠 Trade Plan & Price Targets:
📥 Wait for price to hit $20.70–21.00 zone (major confluence zone)
✅ Entry Range: $21.00–$22.00
❌ Stop-Loss: Below $19.00 (channel breakdown invalidation)
🎯 Target 1: $35.00
→ 📈 Return: +64.8%
🎯 Target 2: $72.00
→ 📈 Return: +229.3%
⚠️ Key Insights:
Volume spikes during selloff = panic selling, possible capitulation
RSI forming base near 40 → reversal often begins here historically
Macro trend channel still fully intact — just correcting within range
Steep reward potential if entry is timed at support
💬 Will PRMB complete the retest and deliver a massive swing?
🎯 Precision setups like this don't come often — add it to your watchlist now.
#PRMB #ChannelTrading #SwingSetup #LongTermReversal #HighReward #TechnicalSetup #TargetTraders
PRMB (Primo Brands Corporation)📆 Timeframe: 1W (Weekly)
📉 Price: $28.84
📊 Volume: 32.38M
📈 RSI: 40.95 (Bearish momentum, nearing bounce zone)
🔍 Technical Setup:
PRMB has broken below a steep sub-channel and is targeting the midline and base of a broader long-term ascending channel, offering a high-reward opportunity for medium-term traders.
📉 Short-term trend: Bearish correction
📈 Long-term trend: Still intact within rising channel
📍 Support zone: $20.70 – multi-year horizontal + lower channel convergence
📊 RSI: Oversold territory, potential for bullish divergence
🧠 Trade Plan & Price Targets:
📥 Wait for price to hit $20.70–21.00 zone (major confluence zone)
✅ Entry Range: $21.00–$22.00
❌ Stop-Loss: Below $19.00 (channel breakdown invalidation)
🎯 Target 1: $35.00
→ 📈 Return: +64.8%
🎯 Target 2: $72.00
→ 📈 Return: +229.3%
⚠️ Key Insights:
Volume spikes during selloff = panic selling, possible capitulation
RSI forming base near 40 → reversal often begins here historically
Macro trend channel still fully intact — just correcting within range
Steep reward potential if entry is timed at support
💬 Will PRMB complete the retest and deliver a massive swing?
🎯 Precision setups like this don't come often — add it to your watchlist now.
#PRMB #ChannelTrading #SwingSetup #LongTermReversal #HighReward #TechnicalSetup #TargetTraders
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.
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.