PSX · TEXTILE SPINNING · 1 Hour
SZTM Bear Pennant forming
Shahzad Textile Mills Limited · 12 Nov 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 146.50
- ▼ 1.00%
- Upper line
- 146.74
- +0.2%
- Lower line
- 142.23
- -2.9%
- ATR
- 3.78
- 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
SZTM is building a bear pennant after a 33.40 drop (8.8x ATR) on the hourly chart.
The flag channel runs between 142.23 and 146.74. A hourly close below 141.47 signals continuation towards 108.83; a close above 146.74 fails the pattern.
Structure: bullish external, bearish internal (strong low 108.42). Nearest demand OB 133.50 - 136.78, supply OB 160.50 - 165.45.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 146.74 (+0.2%) would be an upside breakout.
- 3 A 1 hour close below 142.23 (-2.9%) 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.