PSX · SUGAR & ALLIED INDUSTRIES · Daily
MIRKS Descending Triangle forming
Mirpurkhas Sugar Mills Limited · 13 Nov 2026
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 32.19
- ▲ 0.81%
- Upper line
- 32.12
- -0.2%
- Lower line
- 29.04
- -9.8%
- ATR
- 1.53
- 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
MIRKS is compressing inside a descending triangle on the daily chart - 5 swing points, 8.3x ATR wide at the start.
Upper line 32.12, lower line 29.04. The pattern favours a downside resolution: a daily close above 32.43 confirms an upside breakout, a close below 28.73 a downside break.
Structure: bearish external, bearish internal (strong high 44.50). Nearest demand OB 24.17 - 25.39, supply OB 40.01 - 42.40.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the daily chart.
- 2 A daily close above 32.12 (-0.2%) would be an upside breakout.
- 3 A daily close below 29.04 (-9.8%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the descending triangle
A descending triangle is a falling upper trendline meeting flat support; a close below support usually continues the fall, a close above the trendline signals a reversal.
- Confirmation
- A candle close outside the triangle.
- Target
- The triangle's widest height, projected from the breakout.
- Fails if
- A close back inside the triangle soon after the break (a fake-out).