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Technical analysis by mbaberhanif about Symbol PNUT: Buy recommendation (5/30/2025)

https://sahmeto.com/message/3563362
mbaberhanif
mbaberhanif
Rank: 25876
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Buy،Technical،mbaberhanif

PNUT shows a descending channel pattern, indicating a downtrend. The price recently broke below mid-channel support and is currently trading at $0.2839, down 3.11%. The descending trendlines suggest continued bearish pressure. A long position is marked on the chart, with an entry near the current level, a take-profit target around $0.34 near the upper trendline, and a stop-loss near $0.2090 below the lower channel boundary. This setup implies a bullish counter-trend trade within the channel, anticipating a bounce from the lower support trendline. Volume has recently increased, hinting at stronger market activity as price approaches the lower boundary.

Translated from: English
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Signal Type: Buy
Time Frame:
4 hours
Profit Target:
$0.34
Stop Loss Price
$0.209
Price at Publish Time:
$0.28361
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