PSX · TEXTILE SPINNING · Daily
PRET Rising Wedge breakout
Premium Textile Mills Limited · 30 Oct 2026
▲ Bullish Breakout Pattern breakout With the trend
Closed at 659.42 on the breakout. Target 720.64, invalidation 486.90.
Trade plan
- Close
- 659.42
- ▲ 9.00%
- Target
- 720.64
- +9.3%
- Invalidation
- 486.90
- -26.2%
RiskReward
- Reward : risk
- 0.4 : 1
- ATR
- 35.70
- 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 Daily candles · click to enlarge
The breakdown
PRET broke above its rising wedge on the daily close at 659.42.
Projected target 720.64 (+9.3%). The pattern is invalidated beyond 486.90 (-26.2%), a reward-to-risk of about 0.4 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bullish external, bullish internal (strong low 445.00). Nearest demand OB 490.02 - 549.00.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing above the pattern at 659.42.
- 2 The target, 720.64 (+9.3%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 486.90 (-26.2%), cancels the setup.
- 4 Reward : risk is 0.4 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: with the trend.
Pattern guide
About the rising wedge
A rising wedge is two upward-sloping lines that converge; the buying loses momentum and a break below the lower line is usually bearish.
- Confirmation
- A close below the lower wedge line.
- Target
- The wedge's widest height, projected down from the breakout.
- Fails if
- A close back above the lower line or above the wedge's last high.