ON Holding (ONON) — bounce off major support, target $39 (+25%)On Holding AG Class ABATS:ONONdarksignalONON (4H) has been in a broad downtrend since the ~$60 high, printing a consistent series of lower highs (56 → 50 → 47 → 40 → 39) and lower lows across the entire structure. That context matters — this is a corrective bounce setup inside a larger downtrend, not a fresh reversal. Price is currently sitting near the $31 area, close to the recent swing low zone around $30–32 where buyers have stepped in twice before (April and July lows). The immediate resistance to reclaim sits at the last lower-high near $39 — the same level marked by the measured box on the chart. Entry: current zone ($31.00–31.50) Target: $39.00 Invalidation: 4H close below $30.35 (breaks the current low and confirms trend continuation lower) Timeframe: swing, 4H Context: this is a mean-reversion trade against a still-intact downtrend structure — the $39 level is prior resistance, not a trend reversal target. A clean break and hold above $39 would be needed to argue for anything beyond a bounce. Levels marked on chart. Educational content, not financial advice.