PSX · AUTOMOBILE ASSEMBLER · 30 Min
INDU Bear Pennant forming
Indus Motor Company Limited · 05 Nov 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 1,821.00
- ▼ 0.44%
- Upper line
- 1,833.48
- +0.7%
- Lower line
- 1,819.37
- -0.1%
- ATR
- 9.52
- 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
INDU is building a bear pennant after a 59.99 drop (6.3x ATR) on the 30-minute chart.
The flag channel runs between 1,819.37 and 1,833.48. A 30-minute close below 1,817.47 signals continuation towards 1,759.38; a close above 1,833.48 fails the pattern.
Structure: bullish external, bearish internal (strong low 1,750.13). Nearest demand OB 1,780.00 - 1,788.98, supply OB 1,860.00 - 1,874.99.
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 1,833.48 (+0.7%) would be an upside breakout.
- 3 A 30 min close below 1,819.37 (-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.