PSX · ENGINEERING · 1 Hour
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
- 4.21
- ▲ 0.72%
- Upper line
- 4.24
- +0.7%
- Lower line
- 4.12
- -2.1%
- ATR
- 0.09
- 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
BECO is building a bull pennant after a 0.47 rally (5.1x ATR) on the hourly chart.
The flag channel runs between 4.12 and 4.24. A hourly close above 4.26 signals continuation towards 4.71; a close below 4.12 fails the pattern.
Structure: bearish external, bullish internal (strong high 6.28). Nearest demand OB 3.80 - 3.88, supply OB 4.39 - 4.46.
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 4.24 (+0.7%) would be an upside breakout.
- 3 A 1 hour close below 4.12 (-2.1%) 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.