PSX · TEXTILE SPINNING
ELCM Inverse Head & Shoulders forming — Daily chart signal
Elahi Cotton Mills Limited
Daily 08 Oct 2026
Close
243.00
▼ 2.21%
Inverse Head & Shoulders forming
Chart pattern With the trend
ELCM has completed an inverse head & shoulders on the daily chart with the head at 126.01 and the neckline at 365.69.
The pattern is confirmed by a daily close above 370.87. The measured move from the neckline points to 571.14 (+56.2%). A close beyond the head at 126.01 cancels it. Still active - first identified on 06 Aug 2026.
Structure: bullish external, bullish internal (strong low 126.01). Nearest demand OB 65.25 - 65.30.