PSX · SUGAR & ALLIED INDUSTRIES · 1 Hour
TICL Bear Pennant forming
The Thal Industries Corporation Limited · 21 Oct 2026 · 09:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 779.98
- ▼ 0.89%
- Upper line
- 784.96
- +0.6%
- Lower line
- 772.50
- -1.0%
- ATR
- 14.36
- 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
TICL is building a bear pennant after a 128.00 drop (8.9x ATR) on the hourly chart.
The flag channel runs between 772.50 and 784.96. A hourly close below 769.63 signals continuation towards 644.50; a close above 784.96 fails the pattern.
Structure: bearish external, bearish internal (strong high 868.00). Nearest demand OB 650.00 - 670.03, supply OB 810.02 - 830.00.
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 784.96 (+0.6%) would be an upside breakout.
- 3 A 1 hour close below 772.50 (-1.0%) 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.