PSX · AUTOMOBILE ASSEMBLER · 30 Min
MTL Bear Pennant forming
Millat Tractors Limited · 21 Oct 2026 · 11:00 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 292.49
- ▼ 0.16%
- Upper line
- 292.73
- +0.1%
- Lower line
- 291.50
- -0.3%
- ATR
- 1.09
- 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
MTL is building a bear pennant after a 15.00 drop (13.8x ATR) on the 30-minute chart.
The flag channel runs between 291.50 and 292.73. A 30-minute close below 291.28 signals continuation towards 276.50; a close above 292.73 fails the pattern.
Structure: bearish external, bearish internal (strong high 318.90). Nearest demand OB 269.00 - 270.50, supply OB 302.88 - 303.75.
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 292.73 (+0.1%) would be an upside breakout.
- 3 A 30 min close below 291.50 (-0.3%) 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.