PSX · TEXTILE WEAVING · Daily
ASHT Bear Pennant forming
Ashfaq Textile Mills Limited · 02 Nov 2026
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 36.33
- ▼ 1.47%
- Upper line
- 40.75
- +12.2%
- Lower line
- 35.58
- -2.1%
- ATR
- 3.48
- Target
- Invalidation
- Pattern lines
- Fair value gap (bull / bear)
- Order block
- Strong / weak high and low
- BOS · CHoCHstructure breaks
SMC Structure · Order Blocks · FVG · Pattern Detector Daily candles · click to enlarge
The breakdown
ASHT is building a bear pennant after a 24.28 drop (7.0x ATR) on the daily chart.
The flag channel runs between 35.58 and 40.75. A daily close below 34.88 signals continuation towards 11.30; a close above 40.75 fails the pattern.
Structure: bullish external, bullish internal (strong low 13.64). Nearest demand OB 14.56 - 16.80.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the daily chart.
- 2 A daily close above 40.75 (+12.2%) would be an upside breakout.
- 3 A daily close below 35.58 (-2.1%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the bear pennant
A bear pennant is a sharp fall followed by a small symmetrical triangle; a break below it usually continues the fall.
- Confirmation
- A close below the pennant.
- Target
- The length of the pole, projected down from the breakout.
- Fails if
- A close above the pennant.