PSX · TEXTILE COMPOSITE · Daily
NCL Bull Pennant breakout
Nishat Chunian Limited · 05 Nov 2026
▲ Bullish Breakout Pattern breakout Against the trend
Closed at 44.39 on the breakout. Target 52.57, invalidation 42.01.
Trade plan
- Close
- 44.39
- ▲ 3.84%
- Target
- 52.57
- +18.4%
- Invalidation
- 42.01
- -5.4%
RiskReward
- Reward : risk
- 3.4 : 1
- ATR
- 1.64
- 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 Daily candles · click to enlarge
The breakdown
NCL broke above its bull pennant on the daily close at 44.39.
Projected target 52.57 (+18.4%). The pattern is invalidated beyond 42.01 (-5.4%), a reward-to-risk of about 3.4 : 1.
Structure: bearish external, bullish internal (strong high 61.41). Nearest demand OB 34.50 - 35.40, supply OB 55.00 - 57.45.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing above the pattern at 44.39.
- 2 The target, 52.57 (+18.4%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 42.01 (-5.4%), cancels the setup.
- 4 Reward : risk is 3.4 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against the trend.
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.