PSX · FOOD & PERSONAL CARE PRODUCTS · 1 Hour
NESTLE Head & Shoulders forming
Nestle Pakistan Limited · 05 Nov 2026 · 10:30 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 6,900.00
- ▲ 0.00%
- Target
- 6,354.02
- -7.9%
- Invalidation
- —
- ATR
- 61.48
- 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
NESTLE has completed a head & shoulders on the hourly chart with the head at 7,244.00 and the neckline at 6,773.01.
The pattern is confirmed by a hourly close below 6,760.71. The measured move from the neckline points to 6,354.02 (-6.2%). A close beyond the head at 7,244.00 cancels it.
Structure: bearish external, bearish internal (strong high 8,638.00). Nearest supply OB 7,119.00 - 7,210.00.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 6,900.00.
- 2 The target, 6,354.02 (-7.9%), is the pattern's height projected from the breakout.
- 3 Trend context: with 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.