PRMB | Breakdown in Progress – Setting Up for a 200% Swing Buy📍 Ticker: NYSE: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
