PSX · TEXTILE COMPOSITE · Daily
FASM Head & Shoulders breakdown
Faisal Spinning Mills Limited · 16 Oct 2026
▼ Bearish Breakout Pattern breakout Against the trend
Closed at 288.72 on the breakout. Target 114.61, invalidation 393.86.
Trade plan
● Active- Close
- 288.72
- ▼ 6.87%
- Target
- 114.61
- -60.3%
- Invalidation
- 393.86
- +36.4%
RiskReward
- Reward : risk
- 1.7 : 1
- ATR
- 22.35
- Price now
- 288.72 0.0%
Outcome measured on the daily bars after the signal: target or invalidation, whichever is touched first; a bar touching both counts as invalidated.
- 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
FASM broke below its head & shoulders on the daily close at 288.72.
Projected target 114.61 (-60.3%). The pattern is invalidated beyond 393.86 (+36.4%), a reward-to-risk of about 1.7 : 1.
Structure: bullish external, bullish internal (strong low 190.88). Nearest demand OB 163.00 - 165.00.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing below the pattern at 288.72.
- 2 The target, 114.61 (-60.3%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 393.86 (+36.4%), cancels the setup.
- 4 Reward : risk is 1.7 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against 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.