PSX · SUGAR & ALLIED INDUSTRIES · 30 Min
TCORP Bear Pennant forming
Tariq Corporation Limited · 20 Oct 2026 · 14:00 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 19.00
- ▲ 0.00%
- Upper line
- 19.23
- +1.2%
- Lower line
- 18.98
- -0.1%
- ATR
- 0.19
- 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
TCORP is building a bear pennant after a 0.99 drop (5.3x ATR) on the 30-minute chart.
The flag channel runs between 18.98 and 19.23. A 30-minute close below 18.94 signals continuation towards 17.99; a close above 19.23 fails the pattern.
Structure: bearish external, bearish internal (strong high 30.87). Nearest supply OB 21.11 - 21.48.
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 19.23 (+1.2%) would be an upside breakout.
- 3 A 30 min close below 18.98 (-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.