On friday March 21, 2025 Interloop Limited share price have increased 6.87% from PKR 60.37 to PKR 64.57 price per share. On internet there no news on that sector or company which represent not the sentiment effect on this stock. But there are some technical reasons first in some months after first quarter report releasing stock price in downtrend moving which means that market have not returning well on that stock. Selling pressure is high above in some month. The day’s trading range spanned from a low of PKR 61.00 to a high of PKR 65.50, with a substantial trading volume of approximately 3.5 million shares, significantly surpassing the 65-day average of 1.06 million shares. RSI indicator signals every time that stock is overbought and continuously selling pressure is above. Stock have strong support position between PKR 68 to PKR 55.
When the second earning report publish it suddenly breakout the strong resistance of PKR 60.59 and some days its shows a bullish momentum. RSI also have below 30 indicate the oversold which means that higher chance to bullish trend have seen in some period. That’s how seen on Friday. When its see from 20 days of EMA (exponential moving average) trend line it also signals the high bullish trend in some days.
In my opinion there are high chances for bullish reversal, potential for uptrend in upcoming days due to high selling power in previous months and market correct it original value.
