PSX · MODARABAS · 30 Min
PIM Bear Pennant forming
Popular Islamic Modaraba · 29 Oct 2026 · 12:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 113.49
- ▲ 2.61%
- Upper line
- 116.48
- +2.6%
- Lower line
- 110.94
- -2.2%
- ATR
- 4.92
- 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
PIM is building a bear pennant after a 28.29 drop (5.7x ATR) on the 30-minute chart.
The flag channel runs between 110.94 and 116.48. A 30-minute close below 109.96 signals continuation towards 82.65; a close above 116.48 fails the pattern.
Structure: bullish external, bearish internal (strong low 105.26). Nearest demand OB 85.80 - 87.86, supply OB 125.97 - 137.00.
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 116.48 (+2.6%) would be an upside breakout.
- 3 A 30 min close below 110.94 (-2.2%) 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.