PSX · SUGAR & ALLIED INDUSTRIES · Daily
CHAS Head & Shoulders forming
Chashma Sugar Mills Limited · 23 Oct 2026
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 84.46
- ▼ 4.14%
- Target
- -8.52
- -110.1%
- Invalidation
- —
- ATR
- 5.54
- 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
CHAS has completed a head & shoulders on the daily chart with the head at 160.49 and the neckline at 78.27.
The pattern is confirmed by a daily close below 77.16. The measured move from the neckline points to -8.52 (-110.9%). A close beyond the head at 160.49 cancels it.
Structure: bullish external, bullish internal (strong low 40.35). Nearest demand OB 48.06 - 53.99.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing below the pattern at 84.46.
- 2 The target, -8.52 (-110.1%), is the pattern's height projected from the breakout.
- 3 Trend context: against 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.