PUMA: Multi-Year Downtrend Broken — WCL Retest Before €35–€38?PUMA SEXETR_DLY:PUMSmellyTazPUM is sitting at a very interesting technical location. For years, price was controlled by a major descending trendline. Every recovery attempt was capped by that structure, keeping the bigger picture bearish. But now that trendline has finally been broken to the upside, and that changes the whole conversation. This is no longer just a stock stuck under a downtrend line. Now the question becomes: was the breakout real, or was it just a liquidity trap? From my view, the bullish structure is still active. The chart has a valid bullish ABC sequence, and as long as the B level remains intact, the C target remains a valid draw. That target sits around the €35–€38 zone, which makes it the main upside magnet if buyers continue defending the structure. What makes this chart even more interesting is the current location. Price is pulling back into the WCL zone, which I view as the buyer defense area. This is where buyers either reload and protect the sequence, or the structure starts losing strength. BC1 already did its job earlier. It gave the first reload before price expanded higher and broke through the long-term descending trendline. Now WCL becomes the next important test. If WCL holds, the bullish case stays strong: price defended structure, retested the breakout area, and still has an active C target above. If WCL fails, then I would watch BC2 as the deeper reload zone. That does not instantly kill the bullish idea, but it would mean buyers need to defend from lower prices before attempting the next leg. The invalidation remains simple: if B breaks, the bullish ABC sequence is no longer valid. So for me, the chart is not about blindly buying PUMA. It is about watching whether buyers can defend the WCL after a multi-year trendline breakout. If they can, the €35–€38 ABC target becomes very realistic. Not financial advice.