PSX · PHARMACEUTICALS · Daily
IBLHL Bear Pennant forming
IBL HealthCare Limited · 20 Oct 2026
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 40.28
- ▼ 1.92%
- Upper line
- 42.33
- +5.1%
- Lower line
- 40.01
- -0.7%
- ATR
- 1.48
- 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
IBLHL is building a bear pennant after a 9.51 drop (6.4x ATR) on the daily chart.
The flag channel runs between 40.01 and 42.33. A daily close below 39.71 signals continuation towards 30.50; a close above 42.33 fails the pattern.
Structure: bearish external, bearish internal (strong high 85.82). Nearest demand OB 22.63 - 23.30, supply OB 64.25 - 70.21.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the daily chart.
- 2 A daily close above 42.33 (+5.1%) would be an upside breakout.
- 3 A daily close below 40.01 (-0.7%) 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.