PSX · FOOD & PERSONAL CARE PRODUCTS · 1 Hour
ASC Bear Pennant forming
Al Shaheer Corporation Limited · 21 Oct 2026 · 11:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 7.74
- ▼ 1.40%
- Upper line
- 7.91
- +2.2%
- Lower line
- 7.71
- -0.4%
- ATR
- 0.14
- 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
ASC is building a bear pennant after a 0.83 drop (6.0x ATR) on the hourly chart.
The flag channel runs between 7.71 and 7.91. A hourly close below 7.68 signals continuation towards 6.88; a close above 7.91 fails the pattern.
Structure: bearish external, bullish internal (strong high 9.18). Nearest supply OB 8.60 - 8.63.
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 7.91 (+2.2%) would be an upside breakout.
- 3 A 1 hour close below 7.71 (-0.4%) 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.