PSX · PAPER, BOARD & PACKAGING
MERIT Bear Pennant forming — 1 Hour chart signal
Merit Packaging Limited
1 Hour 09 Oct 2026 · 11:30 PKT
Close
9.00
▲ 1.12%
Bear Pennant forming
Chart pattern With the trend
MERIT is building a bear pennant after a 0.78 drop (5.4x ATR) on the hourly chart.
The flag channel runs between 8.93 and 9.10. A hourly close below 8.90 signals continuation towards 8.15; a close above 9.10 fails the pattern. Still active - first identified on 08 Oct 2026 09:30.
Structure: bearish external, bearish internal (strong high 13.15). Nearest demand OB 8.39 - 8.59, supply OB 9.60 - 9.84.