PSX · SUGAR & ALLIED INDUSTRIES · 30 Min
SHJS Head & Shoulders forming
Shahtaj Sugar Mills Limited · 12 Nov 2026 · 10:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 144.01
- ▼ 2.70%
- Target
- 114.06
- -20.8%
- Invalidation
- —
- ATR
- 2.92
- 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
SHJS has completed a head & shoulders on the 30-minute chart with the head at 164.00 and the neckline at 138.88.
The pattern is confirmed by a 30-minute close below 138.30. The measured move from the neckline points to 114.06 (-17.9%). A close beyond the head at 164.00 cancels it.
Structure: bullish external, bullish internal (strong low 125.01). Nearest demand OB 136.40 - 137.00, supply OB 168.01 - 168.02.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 144.01.
- 2 The target, 114.06 (-20.8%), 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.