PSX · SUGAR & ALLIED INDUSTRIES · 30 Min
CHAS Bear Pennant forming
Chashma Sugar Mills Limited · 26 Oct 2026 · 13:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 81.50
- ▼ 1.69%
- Upper line
- 80.60
- -1.1%
- Lower line
- 80.26
- -1.5%
- ATR
- 2.50
- 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
CHAS is building a bear pennant after a 14.39 drop (5.8x ATR) on the 30-minute chart.
The flag channel runs between 80.26 and 80.60. A 30-minute close below 79.76 signals continuation towards 65.87; a close above 80.60 fails the pattern.
Structure: bullish external, bullish internal (strong low 71.35). Nearest demand OB 74.52 - 76.00, supply OB 100.60 - 102.90.
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 80.60 (-1.1%) would be an upside breakout.
- 3 A 30 min close below 80.26 (-1.5%) 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.