PRCT: Double Bottom at Major Support
Price has revisited a long-term support level, forming a potential double bottom where buyers previously sparked a strong reversal.
🟢 Bullish Confirmation Developing
Last week printed a bullish Harami, often an early sign of selling exhaustion. This week's candle is now attempting to confirm the reversal, making this a critical area to watch.
📈 High Reward-to-Risk Setup
With risk clearly defined below support, the setup offers an attractive asymmetric opportunity. A sustained rebound could deliver 75%+ upside toward the first major resistance.
🎯 Trade Plan
🟢 Bias: Bullish while support holds
🎯 Targets : 21-25-29 . A total ~75% upside toward the resistance zone
🛡️ Stop Loss: Weekly close below $16.50
💡 Story in One Line
A potential double bottom, bullish Harami, and confirmation candle developing at long-term support create a compelling high reward-to-risk setup, with approximately 75% upside available if the reversal gains traction.