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.
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.
Note
65.50 🚀🚀Note
16.25% running in profit 🚀🚀🚀🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.