PSX · ENGINEERING · 30 Min
BECO Bull Pennant forming
Beco Steel Limited · 05 Nov 2026 · 09:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 4.23
- ▲ 1.20%
- Upper line
- 4.24
- +0.2%
- Lower line
- 4.12
- -2.6%
- ATR
- 0.07
- 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
BECO is building a bull pennant after a 0.44 rally (6.1x ATR) on the 30-minute chart.
The flag channel runs between 4.12 and 4.24. A 30-minute close above 4.25 signals continuation towards 4.68; a close below 4.12 fails the pattern.
Structure: bearish external, bullish internal (strong high 4.37). Nearest demand OB 3.82 - 3.92, supply OB 4.39 - 4.46.
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 4.24 (+0.2%) would be an upside breakout.
- 3 A 30 min close below 4.12 (-2.6%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the bull pennant
A bull pennant is a sharp rise followed by a small symmetrical triangle; a break above it usually continues the rise.
- Confirmation
- A close above the pennant.
- Target
- The length of the pole, projected up from the breakout.
- Fails if
- A close below the pennant.