$PNUT bouncing hard off broken trendline support — the kind of reclaim that sets up continuation plays.
Price structure flipped bullish. Next leg targets $0.0480, a major resistance zone that's been capping upside since the last impulse move.
Watch for volume confirmation on the push through mid-range. If it holds above the reclaimed trendline on retests, the setup stays clean. Break below invalidates the thesis and opens downside back toward prior lows.
Chart's lining up. Execution depends on follow-through.
Price structure flipped bullish. Next leg targets $0.0480, a major resistance zone that's been capping upside since the last impulse move.
Watch for volume confirmation on the push through mid-range. If it holds above the reclaimed trendline on retests, the setup stays clean. Break below invalidates the thesis and opens downside back toward prior lows.
Chart's lining up. Execution depends on follow-through.