PSX · SUGAR & ALLIED INDUSTRIES · 1 Hour
MRNS Head & Shoulders breakdown
Mehran Sugar Mills Limited · 26 Oct 2026 · 14:30 PKT
▼ Bearish Breakout Pattern breakout With the trend
Closed at 58.57 on the breakout. Target 52.29, invalidation 61.80.
Trade plan
● Active- Close
- 58.57
- ▼ 0.71%
- Target
- 52.29
- -10.7%
- Invalidation
- 61.80
- +5.5%
RiskReward
- Reward : risk
- 1.9 : 1
- ATR
- 1.06
- Price now
- 58.57 0.0%
Outcome measured on the 1 hour 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 1 Hour candles · click to enlarge
The breakdown
MRNS broke below its head & shoulders on the hourly close at 58.57.
Projected target 52.29 (-10.7%). The pattern is invalidated beyond 61.80 (+5.5%), a reward-to-risk of about 1.9 : 1.
Structure: bearish external, bullish internal (strong high 94.01). Nearest demand OB 52.32 - 52.55, supply OB 67.25 - 68.45.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 58.57.
- 2 The target, 52.29 (-10.7%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 61.80 (+5.5%), cancels the setup.
- 4 Reward : risk is 1.9 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: with 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.