PSX · POWER GENERATION & DISTRIBUTION · 1 Hour
EPQL Bull Pennant forming
Engro Powergen Qadirpur Limited · 22 Oct 2026 · 11:30 PKT
▲ Bullish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 23.98
- ▲ 0.55%
- Upper line
- 24.07
- +0.4%
- Lower line
- 23.75
- -1.0%
- ATR
- 0.13
- 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
EPQL is building a bull pennant after a 0.80 rally (5.9x ATR) on the hourly chart.
The flag channel runs between 23.75 and 24.07. A hourly close above 24.10 signals continuation towards 24.87; a close below 23.75 fails the pattern.
Structure: bullish external, bullish internal (strong low 22.53). Nearest supply OB 30.11 - 31.00.
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 24.07 (+0.4%) would be an upside breakout.
- 3 A 1 hour close below 23.75 (-1.0%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the bull pennant
A bull pennant is a sharp rise followed by a small symmetrical triangle; a break above it usually continues the rise.
- Confirmation
- A close above the pennant.
- Target
- The length of the pole, projected up from the breakout.
- Fails if
- A close below the pennant.