ETERNAL – Rising Wedge Breakdown Setup | Target: 280

The stock has formed a Rising Wedge pattern after a strong rally, with multiple rejections from the upper trendline (marked by red arrows). previous price action shows weakness near the resistance zone, indicating a potential breakdown.

🔹 Key Highlights:

• Rising Wedge Pattern visible on the daily chart – a bearish reversal setup.
  
• Volume surge in recent sessions signals distribution at higher levels.
  
• Gap Support at 277 – likely to be tested once breakdown confirms.
  
• Immediate Target: 280, aligning with horizontal support.
  

Risk-to-Reward favored on the short side as price rejects resistance.

🔻 Breakdown Confirmation:

• 277 (Gap level)
  
• 241.45
  
• 219.22
  

This setup offers a clean technical short opportunity if downside momentum continues. Suitable for traders looking to capitalize on wedge breakdowns with volume confirmation.

Disclaimer: Risk management is crucial in this volatile market, so keep position sizing appropriate. This analysis is intended for educational purposes and not financial advice.