PSX · SUGAR & ALLIED INDUSTRIES · 1 Hour
SHJS Head & Shoulders forming
Shahtaj Sugar Mills Limited · 12 Nov 2026 · 13:30 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 144.01
- ▲ 0.00%
- Target
- 114.02
- -20.8%
- Invalidation
- —
- ATR
- 3.64
- 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 1 Hour candles · click to enlarge
The breakdown
SHJS has completed a head & shoulders on the hourly chart with the head at 164.00 and the neckline at 138.85.
The pattern is confirmed by a hourly close below 138.12. The measured move from the neckline points to 114.02 (-17.9%). A close beyond the head at 164.00 cancels it.
Structure: bearish external, bullish internal (strong high 234.94). Nearest demand OB 136.40 - 137.00, supply OB 168.01 - 168.02.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 144.01.
- 2 The target, 114.02 (-20.8%), is the pattern's height projected from the breakout.
- 3 Trend context: with the trend.
Pattern guide
About the head and shoulders
A head and shoulders is a topping pattern: three peaks with the middle one highest, resting on a "neckline" whose break often ends an uptrend.
- Confirmation
- A close below the neckline.
- Target
- The height from the head to the neckline, projected down from the break.
- Fails if
- A close back above the right shoulder or the neckline.