PSX · TEXTILE SPINNING
CTM Head & Shoulders forming — 1 Hour chart signal
Colony Textile Mills Limited
1 Hour 09 Oct 2026 · 11:30 PKT
Close
6.55
▲ 2.18%
Head & Shoulders forming
Chart pattern With the trend
CTM has completed a head & shoulders on the hourly chart with the head at 7.50 and the neckline at 6.42.
The pattern is confirmed by a hourly close below 6.38. The measured move from the neckline points to 5.19 (-19.1%). A close beyond the head at 7.50 cancels it. Still active - first identified on 09 Oct 2026 08:30.
Structure: bearish external, bullish internal (strong high 9.77). Nearest demand OB 6.06 - 6.12, supply OB 8.80 - 9.30.