PSX · PHARMACEUTICALS · 30 Min
IBLHL Bear Pennant forming
IBL HealthCare Limited · 02 Nov 2026 · 13:00 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 38.50
- ▲ 0.00%
- Upper line
- 38.40
- -0.3%
- Lower line
- 38.43
- -0.2%
- ATR
- 0.31
- 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 30 Min candles · click to enlarge
The breakdown
IBLHL is building a bear pennant after a 1.75 drop (5.7x ATR) on the 30-minute chart.
The flag channel runs between 38.43 and 38.40. A 30-minute close below 38.37 signals continuation towards 36.68; a close above 38.40 fails the pattern.
Structure: bearish external, bearish internal (strong high 40.99). Nearest supply OB 39.10 - 39.21.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 38.40 (-0.3%) would be an upside breakout.
- 3 A 30 min close below 38.43 (-0.2%) 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.