PRMB | Breakdown in Progress – Setting Up for a 200% Swing Buy

📍 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.
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