PSX · TEXTILE SPINNING · Daily
PRET Rising Wedge breakdown
Premium Textile Mills Limited · 27 Oct 2026
▼ Bearish Breakout Pattern breakout Against the trend
Closed at 500.00 on the breakout. Target 415.87, invalidation 591.00.
Trade plan
- Close
- 500.00
- ▼ 1.31%
- Target
- 415.87
- -16.8%
- Invalidation
- 591.00
- +18.2%
RiskReward
- Reward : risk
- 0.9 : 1
- ATR
- 30.79
- 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 Daily candles · click to enlarge
The breakdown
PRET broke below its rising wedge on the daily close at 500.00.
Projected target 415.87 (-16.8%). The pattern is invalidated beyond 591.00 (+18.2%), a reward-to-risk of about 0.9 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bullish external, bearish internal (strong low 352.00). Nearest demand OB 279.05 - 300.00.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing below the pattern at 500.00.
- 2 The target, 415.87 (-16.8%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 591.00 (+18.2%), cancels the setup.
- 4 Reward : risk is 0.9 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against the trend.
Pattern guide
About the rising wedge
A rising wedge is two upward-sloping lines that converge; the buying loses momentum and a break below the lower line is usually bearish.
- Confirmation
- A close below the lower wedge line.
- Target
- The wedge's widest height, projected down from the breakout.
- Fails if
- A close back above the lower line or above the wedge's last high.