$PNUT is trading at $0.6821, showing signs of weakness after being rejected near the $0.7000 resistance level. A short trade setup is favorable if the price fails to reclaim $0.6900, with an entry range between $0.6800 and $0.6900.
The first target for this short position is $0.6700, followed by a deeper target at $0.6600 if selling pressure intensifies. To manage risk effectively, a stop-loss should be placed above $0.7000.
A breakdown below $0.6700 would likely confirm bearish momentum, increasing the probability of reaching the lower support zone.