PSX · PAPER, BOARD & PACKAGING · 1 Hour
PKGS Inverse Head & Shoulders forming
Packages Limited · 23 Oct 2026 · 15:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Trade plan
- Close
- 679.00
- ▼ 0.15%
- Target
- 744.81
- +9.7%
- Invalidation
- —
- ATR
- 7.97
- 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
PKGS has completed an inverse head & shoulders on the hourly chart with the head at 651.25 and the neckline at 690.01.
The pattern is confirmed by a hourly close above 691.60. The measured move from the neckline points to 744.81 (+7.9%). A close beyond the head at 651.25 cancels it.
Structure: bearish external, bearish internal (strong high 848.00). Nearest supply OB 710.00 - 715.99.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing above the pattern at 679.00.
- 2 The target, 744.81 (+9.7%), is the pattern's height projected from the breakout.
- 3 Trend context: against the trend.
Pattern guide
About the inverse head and shoulders
An inverse head and shoulders is a bottoming pattern: three troughs with the middle one lowest, whose neckline break often starts an uptrend.
- Confirmation
- A close above the neckline.
- Target
- The depth from the head to the neckline, projected up from the break.
- Fails if
- A close back below the right shoulder or the neckline.