PSX · POWER GENERATION & DISTRIBUTION · 30 Min
SPWL Bear Pennant forming
Saif Power Limited · 04 Nov 2026 · 11:00 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 7.63
- ▼ 1.17%
- Upper line
- 7.78
- +2.0%
- Lower line
- 7.64
- +0.1%
- ATR
- 0.12
- 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
SPWL is building a bear pennant after a 1.31 drop (10.5x ATR) on the 30-minute chart.
The flag channel runs between 7.64 and 7.78. A 30-minute close below 7.62 signals continuation towards 6.33; a close above 7.78 fails the pattern.
Structure: bearish external, bearish internal (strong high 8.99). Nearest supply OB 8.70 - 8.80.
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 7.78 (+2.0%) would be an upside breakout.
- 3 A 30 min close below 7.64 (+0.1%) 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.