PSX · SUGAR & ALLIED INDUSTRIES · Daily
HRPL Head & Shoulders forming
Habib Rice Product Limited. · 22 Oct 2026
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 18.34
- ▼ 4.63%
- Target
- 11.42
- -37.7%
- Invalidation
- —
- ATR
- 0.93
- 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
HRPL has completed a head & shoulders on the daily chart with the head at 24.95 and the neckline at 17.72.
The pattern is confirmed by a daily close below 17.53. The measured move from the neckline points to 11.42 (-35.5%). A close beyond the head at 24.95 cancels it.
Structure: bearish external, bullish internal (strong high 28.59). Nearest supply OB 41.80 - 41.93.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing below the pattern at 18.34.
- 2 The target, 11.42 (-37.7%), 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.