PSX · AUTOMOBILE ASSEMBLER · 30 Min
INDU Bear Pennant forming
Indus Motor Company Limited · 12 Nov 2026 · 15:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 1,830.25
- ▼ 0.46%
- Upper line
- 1,838.61
- +0.5%
- Lower line
- 1,831.59
- +0.1%
- ATR
- 7.24
- 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 30 Min candles · click to enlarge
The breakdown
INDU is building a bear pennant after a 38.99 drop (5.4x ATR) on the 30-minute chart.
The flag channel runs between 1,831.59 and 1,838.61. A 30-minute close below 1,830.14 signals continuation towards 1,792.60; a close above 1,838.61 fails the pattern.
Structure: bullish external, bullish internal (strong low 1,750.13). Nearest demand OB 1,780.00 - 1,788.98, supply OB 1,886.00 - 1,898.00.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 1,838.61 (+0.5%) would be an upside breakout.
- 3 A 30 min close below 1,831.59 (+0.1%) 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.