PSX · PAPER, BOARD & PACKAGING · 1 Hour
CEPB Bear Pennant forming
Century Paper & Board Mills Limited · 02 Nov 2026 · 10:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 22.38
- ▲ 0.13%
- Upper line
- 22.74
- +1.6%
- Lower line
- 22.41
- +0.1%
- ATR
- 0.58
- 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 1 Hour candles · click to enlarge
The breakdown
CEPB is building a bear pennant after a 4.32 drop (7.5x ATR) on the hourly chart.
The flag channel runs between 22.41 and 22.74. A hourly close below 22.29 signals continuation towards 18.09; a close above 22.74 fails the pattern.
Structure: bearish external, bearish internal (strong high 27.20). Nearest supply OB 25.00 - 25.40.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 22.74 (+1.6%) would be an upside breakout.
- 3 A 1 hour close below 22.41 (+0.1%) 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.