PSX · CHEMICAL · Daily
GCWL Bear Pennant forming
Ghani Chemworld Limited · 13 Nov 2026
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 11.56
- ▲ 0.00%
- Upper line
- 11.83
- +2.3%
- Lower line
- 11.32
- -2.1%
- ATR
- 0.53
- 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
GCWL is building a bear pennant after a 3.41 drop (6.4x ATR) on the daily chart.
The flag channel runs between 11.32 and 11.83. A daily close below 11.21 signals continuation towards 7.91; a close above 11.83 fails the pattern.
Structure: bearish external, bearish internal (strong high 14.43). Nearest demand OB 7.98 - 8.75, supply OB 12.49 - 13.42.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the daily chart.
- 2 A daily close above 11.83 (+2.3%) would be an upside breakout.
- 3 A daily close below 11.32 (-2.1%) 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.