PSX · PHARMACEUTICALS · 30 Min
GLAXO Rising Wedge breakdown
GlaxoSmithKline Pakistan Limited · 11 Nov 2026 · 15:00 PKT
▼ Bearish Breakout Pattern breakout Against the trend
Closed at 344.00 on the breakout. Target 330.15, invalidation 347.39.
Trade plan
- Close
- 344.00
- ▲ 0.29%
- Target
- 330.15
- -4.0%
- Invalidation
- 347.39
- +1.0%
RiskReward
- Reward : risk
- 4.1 : 1
- ATR
- 2.23
- 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
GLAXO broke below its rising wedge on the 30-minute close at 344.00.
Projected target 330.15 (-4.0%). The pattern is invalidated beyond 347.39 (+1.0%), a reward-to-risk of about 4.1 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bullish external, bullish internal (strong low 316.06). Nearest demand OB 324.00 - 325.00, supply OB 352.53 - 354.00.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 344.00.
- 2 The target, 330.15 (-4.0%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 347.39 (+1.0%), cancels the setup.
- 4 Reward : risk is 4.1 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against the trend.
Pattern guide
About the rising wedge
A rising wedge is two upward-sloping lines that converge; the buying loses momentum and a break below the lower line is usually bearish.
- Confirmation
- A close below the lower wedge line.
- Target
- The wedge's widest height, projected down from the breakout.
- Fails if
- A close back above the lower line or above the wedge's last high.