PSX · ENGINEERING · 30 Min
ASTL Bear Pennant forming
Amreli Steels Limited · 04 Nov 2026 · 10:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 17.43
- ▼ 0.12%
- Upper line
- 17.59
- +0.9%
- Lower line
- 17.32
- -0.6%
- ATR
- 0.29
- 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
ASTL is building a bear pennant after a 2.30 drop (8.0x ATR) on the 30-minute chart.
The flag channel runs between 17.32 and 17.59. A 30-minute close below 17.26 signals continuation towards 15.02; a close above 17.59 fails the pattern.
Structure: bullish external, bullish internal (strong low 14.10). Nearest demand OB 16.28 - 16.36, supply OB 19.41 - 19.78.
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 17.59 (+0.9%) would be an upside breakout.
- 3 A 30 min close below 17.32 (-0.6%) 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.