ILP displays a classic bullish flag pattern, typically seen as a continuation signal in technical analysis. After a strong upward rally (the flagpole), the stock entered a downward sloping consolidation channel (the flag). Recently, it has broken out of this pattern, indicating a potential resumption of the prior bullish trend. Although a pullback is currently in play, this retest of the breakout zone may offer a strong support base. If held, the stock could be poised for another impulsive move upward, targeting new highs in the coming months.
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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.