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INTERLOOP LTD

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ILP trade ideas

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! 📈🔍
PSX:ILPLong
by tell_Arshad
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