Following these proceedings, Bernstein upgraded its ICICI Bank Ltd. ADR [IBN] rating to an Outperform from a a Mkt perform in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in mid January with a ‘”an Overweight”‘ rating. Jefferies also remained covering IBN and has increased its forecast on October 30, 2017 with a “Buy” recommendation from previously “Hold” rating. Macquarie revised its rating on March 20, 2017. It rated IBN as “an Outperform” which previously was an “a Neutral”.
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Price Performance Review of IBN
On Tuesday, ICICI Bank Ltd. ADR [NYSE:IBN] saw its stock jump 0.51% to $29.29. Over the last five days, the stock has lost -0.03%. ICICI Bank Ltd. ADR shares have risen nearly 22.86% since the year began. Nevertheless, the stocks have risen 28.80% over the past one year. While a 52-week high of $31.60 was reached on 09/20/24, a 52-week low of $21.89 was recorded on 01/17/24. SMA at 50 days reached $29.20, while 200 days put it at $27.10.
Levels Of Support And Resistance For IBN Stock
The 24-hour chart illustrates a support level at 29.18, which if violated will result in even more drops to 29.08. On the upside, there is a resistance level at 29.48. A further resistance level may holdings at 29.68. The Relative Strength Index (RSI) on the 14-day chart is 46.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.51, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.29%. Stochastics %K at 12.93% indicates the stock is a buying.
How much short interest is there in ICICI Bank Ltd. ADR?
A steep rise in short interest was recorded in ICICI Bank Ltd. ADR stocks on 2024-09-30, growing by 1.31 million shares to a total of 27.25 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 25.93 million shares. There was a rise of 4.82%, which implies that there is a positive sentiment for the stock.
