PSX · TEXTILE COMPOSITE · 1 Hour
NCL Bear Pennant forming
Nishat Chunian Limited · 20 Oct 2026 · 13:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 35.00
- ▲ 0.69%
- Upper line
- 35.67
- +1.9%
- Lower line
- 34.82
- -0.5%
- ATR
- 0.39
- 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
NCL is building a bear pennant after a 3.98 drop (10.2x ATR) on the hourly chart.
The flag channel runs between 34.82 and 35.67. A hourly close below 34.74 signals continuation towards 30.84; a close above 35.67 fails the pattern.
Structure: bullish external, bearish internal (strong low 31.18). Nearest supply OB 38.00 - 38.65.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 35.67 (+1.9%) would be an upside breakout.
- 3 A 1 hour close below 34.82 (-0.5%) 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.