PSX · TEXTILE SPINNING · 1 Hour
ASTM Falling Wedge forming
Asim Textile Mills Limited · 27 Oct 2026 · 09:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 53.00
- ▼ 2.39%
- Upper line
- 59.34
- +12.0%
- Lower line
- 46.85
- -11.6%
- ATR
- 2.82
- 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
ASTM is compressing inside a falling wedge on the hourly chart - 5 swing points, 6.9x ATR wide at the start.
Upper line 59.34, lower line 46.85. The pattern favours an upside resolution: a hourly close above 59.90 confirms an upside breakout, a close below 46.29 a downside break.
Structure: bearish external, bullish internal (strong high 129.69). Nearest demand OB 22.75 - 24.42, supply OB 63.15 - 65.00.
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 59.34 (+12.0%) would be an upside breakout.
- 3 A 1 hour close below 46.85 (-11.6%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the falling wedge
A falling wedge is two downward-sloping lines that converge; the selling loses momentum and a break above the upper line is usually bullish.
- Confirmation
- A close above the upper wedge line.
- Target
- The wedge's widest height, projected up from the breakout.
- Fails if
- A close back below the upper line or below the wedge's last low.