ILP - PSX- Buy OpportunityILP was in a small bearish phase previously, but it has made a bullish divergence at 1D that played well and is now taking support from a key support level. Look for buy at the current level and place SL below support.
ILP trade ideas
INTERLOOP BULLISH FLAG PATTERN The script of Interloop (ILP) seems to continue the Bullish Trend as Bullish Divergence is seen on the charts and the price is bouncing from the 0.618 FIB level making Bullish Flag Pattern.
The target price for the Script is around Rs. 149 with major support at Rs. 85.
What are your Views ????????
ILP can be traded for 60% potential gainsILP trade can be entered into at a price above 85.5 with a SL of 60.5
First TP will be 110.5 while second TP would be 135.5, Final Projection of the Bullish pennant around is Rs. 140, a good company with solid capital potential on the cards.
ILP potential Buy setupReasons for bullish bias:
- Price formed double bottoms at strong support level
- Overall, a bullish trend on daily
- Bullish divergence
Here are the recommended trading levels:
Buy 1(CMP): 71.7
Buy 2: 67.2
Stop Loss Level: Closing below 61
Take Profit Level 1: 78
Take Profit Level 2: 85
ILP | End of H&S Pattern?Interloop (ILP)- Swing Trade Setup
Company Profile
Interloop is a leading vertically integrated textile manufacturer, producing high-quality hosiery, denim, knitted apparel, and seamless activewear for top global brands and retailers with a strong focus on ESG.
Trade Setup
Current Price PkR63.50
Entry Price PkR63
First Target PkR70
Second Target PkR75
Third Target PkR80
Stop Loss PkR54.50
Risk & Reward Ratio 2
PE Ratio 5.6 (below 6)
Analysis:
ILP declined after making Head & Shoulder patter and currently at its support level. Last two week candle shows sustaining in the price. Possible pull back is expected. It's entering a double bottom zone, which typically indicates a bullish reversal. Look for entry points in the designated buyback zone for a strategic trade.
Price Targets:
Expect an initial surge to around PkR70 and aim for a mid-term target of PkR75. Optimistically, the final setup target could hit PkR80.
ILP | Head & ShoulderILP showing a clear Head and Shoulders pattern, which is a common bearish reversal signal. The components of the pattern include:
Left Shoulder : The first peak that forms after an uptrend, followed by a pullback.
Head : The highest peak that follows the left shoulder, followed by another decline.
Right Shoulder : The final peak, lower than the head but similar to the left shoulder, indicating weakening upward momentum.
The pattern's Neckline is clearly drawn around the PKR 64 mark, and the price has broken below it, confirming the head and shoulders formation. The price recently fell significantly (down 11.66%), suggesting a potential move lower, as depicted by the projected trendline that points towards a support level around PKR 46.30.
The overall analysis points to a bearish outlook, with a likely further decline towards the mentioned support level, assuming no significant changes in market dynamics.
ILP | Head & ShoulderThe chart represents a head and shoulders pattern for Interloop Ltd. (ILP) on the Pakistan Stock Exchange (PSX). This technical analysis indicates a potential reversal in the stock's upward trend. The chart marks the "Left Shoulder," "Head," and "Right Shoulder" at the top of the price movement, forming the classic head and shoulders structure. The "Neckline," drawn horizontally, acts as a support level around PKR 63.91. The stock price has tested the neckline multiple times, and a breakdown below this level could indicate a further downward trend, possibly aligning with the projected blue arrow suggesting a significant price drop if the pattern completes.
Monthly Candle would be a Doji if it closes around 70.
However, stock is still Bullish on Monthly TF.
Bearish Divergence on Weekly TF has appeared.
But Yes, Closing above 68.40 - 68.50 would be a
positive trigger.
If this level is Sustained, we may witness 75 - 76
then 83 - 85.
Short on weekly time frameHuge volume on sell side. The price target would be 45 on the sell side. Looking forward to accumulating it in that area which is also it's fibb 60% area.
Sell InterloopBearish indicators (Strong)
1. RSI & MACD Divergence on weekly timeframe
2. Price is in uptrend but volume is declining.
3. Recently heavy selling pressure. (Tax)
4. BO of Rechtangle pattern will confirm trend reversal
5. Break of Rectangle and weekly support will active our setup.
Price Targets on the chart.
Bullish indicators (Weak)
1. RSI is trending upward.
2. Price Respected weekly support
Bearish Divergences Appearing...Good Buy seems to be around 77 - 78.
Lets See how the Bearish Divergences Play..!
InterloopILP Short term analysis 4th April 2024
Buy at 73 with strict stop loss of 71 and profit targets at 77.
TECH NOTE: ILP break out and retest from its trend line is observed on 4 hour chart. This pattern is bullish for its price action. Use stop loss if breaks 71 and do profit taking around 77.
PSX: ILP (Interloop Ltd), BULLISH Trade Idea: Long Position in Interloop Limited (ILP)
1. Context and Overview:
Stock: Interloop Limited (ILP)
Technical Analysis Approach: We’ll examine key price levels, patterns, and recent changes in character.
2. Technical Analysis:
FVG (Fair Value Gap) Region:
The price is currently tapping into the FVG region, which spans from 69.71 to 71.18.
FVG acts as potential support, suggesting a bounce-back opportunity.
Order Block (OB) Region:
The price is entering the OB region, ranging from 66.77 to 71.19.
OB regions often indicate significant accumulation or distribution.
Change of Character (CHoCH):
Recent price behavior shows a potential change in character.
If the price bounces back, it could signal a bullish reversal.
3. Trade Setup:
Entry Point: Look for confirmation of price bouncing back within the OB region.
Profit Target: Aim for a price target of 77.
Note: This level is considered weak high levels, so monitor closely.
Stop Loss (SL): Set SL at 71.2 (critical accumulation point).
4. Rationale:
The combination of FVG support, OB entry, and CHoCH suggests a favorable setup.
The next earnings announcement on Wed, May 9, 2024, could drive price movement.
5. Conclusion:
Consider a long trade in ILP if conditions align.
Monitor price action and adjust your position as needed.
Remember to manage risk and stay informed about market developments. Happy trading! 📈🔍
ILP - AccumulationILP is in accumulation phase on 1hour chart, it might go towards its first resistance in the coming days. but if it breaks the supports then it might fall more below.
ILP (Interloop) PSX bullish flag pattern on W1 candle ILP is bullish and has formed bullish flag pattern on W1 candle. . The stock is predicted to touch Rs. 210 in the next move. Recommended for medium term, 3 to 6 month investment strategy.
ILP is BullishILP is experiencing strong bullish momentum and has successfully sustained previous higher low. This means that there is still room for upward movement. A breakout above previous higher high would confirm a bullish move. Targets are mentioned on the chart.
ILP is BullishILP is currently in a strong bullish momentum, it has not broken its previous higher low and has reversed from slightly above it. This indicates that there is still ample room for upward movement. According to AB=CD projection, target price for this rally is around 90. Entry and Take Profit points are mentioned on the chart.
ILP is BullishILP is in a strong upward momentum, printing new higher highs and higher lows consistently, and hence the bullish rally is expected to continue to an all time high. Targets are mentioned on the chart.
