PSX · SUGAR & ALLIED INDUSTRIES · 1 Hour
SHSML Head & Shoulders forming
Shahmurad Sugar Mills Limited · 12 Nov 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 350.00
- ▲ 0.00%
- Target
- 284.43
- -18.7%
- Invalidation
- —
- ATR
- 4.51
- 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
SHSML has completed a head & shoulders on the hourly chart with the head at 390.00 and the neckline at 343.12.
The pattern is confirmed by a hourly close below 342.22. The measured move from the neckline points to 284.43 (-17.1%). A close beyond the head at 390.00 cancels it.
Structure: bullish external, bearish internal (strong low 326.00). Nearest supply OB 368.61 - 385.00.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 350.00.
- 2 The target, 284.43 (-18.7%), 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.