PSX · CHEMICAL · 1 Hour
PPVC Bear Pennant forming
Pakistan PVC Limited · 20 Oct 2026 · 11:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 17.00
- ▼ 1.39%
- Upper line
- 17.98
- +5.8%
- Lower line
- 17.02
- +0.1%
- ATR
- 0.51
- 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
PPVC is building a bear pennant after a 3.55 drop (7.0x ATR) on the hourly chart.
The flag channel runs between 17.02 and 17.98. A hourly close below 16.92 signals continuation towards 13.47; a close above 17.98 fails the pattern.
Structure: bearish external, bearish internal (strong high 45.00). Nearest supply OB 19.70 - 19.99.
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 17.98 (+5.8%) would be an upside breakout.
- 3 A 1 hour close below 17.02 (+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.