PSX · ENGINEERING · Daily
BCL Head & Shoulders forming
Bolan Castings Limited · 22 Oct 2026
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 68.73
- ▼ 7.76%
- Target
- 33.54
- -51.2%
- Invalidation
- —
- ATR
- 4.49
- 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
BCL has completed a head & shoulders on the daily chart with the head at 93.02 and the neckline at 60.97.
The pattern is confirmed by a daily close below 60.07. The measured move from the neckline points to 33.54 (-45.0%). A close beyond the head at 93.02 cancels it.
Structure: bearish external, bearish internal (strong high 152.30). Nearest demand OB 56.60 - 59.00.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing below the pattern at 68.73.
- 2 The target, 33.54 (-51.2%), 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.