PSX · TEXTILE SPINNING · 30 Min
JKSM Head & Shoulders forming
J.K. Spinning Mills Limited · 05 Nov 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 425.00
- ▲ 0.50%
- Target
- 262.99
- -38.1%
- Invalidation
- —
- ATR
- 17.23
- 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
JKSM has completed a head & shoulders on the 30-minute chart with the head at 500.00 and the neckline at 383.76.
The pattern is confirmed by a 30-minute close below 380.31. The measured move from the neckline points to 262.99 (-31.5%). A close beyond the head at 500.00 cancels it.
Structure: bullish external, bearish internal (strong low 276.20). Nearest demand OB 276.20 - 306.40.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 425.00.
- 2 The target, 262.99 (-38.1%), is the pattern's height projected from the breakout.
- 3 Trend context: against the trend.
Pattern guide
About the head and shoulders
A head and shoulders is a topping pattern: three peaks with the middle one highest, resting on a "neckline" whose break often ends an uptrend.
- Confirmation
- A close below the neckline.
- Target
- The height from the head to the neckline, projected down from the break.
- Fails if
- A close back above the right shoulder or the neckline.