PSX · POWER GENERATION & DISTRIBUTION · 1 Hour
SPWL Bear Pennant forming
Saif Power Limited · 06 Nov 2026 · 10:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 7.67
- ▼ 0.26%
- Upper line
- 7.68
- +0.1%
- Lower line
- 7.59
- -1.0%
- ATR
- 0.13
- 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
SPWL is building a bear pennant after a 1.31 drop (10.2x ATR) on the hourly chart.
The flag channel runs between 7.59 and 7.68. A hourly close below 7.56 signals continuation towards 6.28; a close above 7.68 fails the pattern.
Structure: bearish external, bearish internal (strong high 8.99). Nearest supply OB 8.70 - 8.80.
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 7.68 (+0.1%) would be an upside breakout.
- 3 A 1 hour close below 7.59 (-1.0%) 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.