As this happened, 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”.
Price Performance Review of IBN
On Tuesday, ICICI Bank Ltd. ADR [NYSE:IBN] saw its stock jump 0.34% to $29.66. Over the last five days, the stock has lost -1.56%. ICICI Bank Ltd. ADR shares have fallen nearly -0.67% since the year began. Nevertheless, the stocks have risen 23.12% over the past one year. While a 52-week high of $32.14 was reached on 01/02/25, a 52-week low of $23.16 was recorded on 01/03/25. SMA at 50 days reached $30.45, while 200 days put it at $28.66.
Levels Of Support And Resistance For IBN Stock
The 24-hour chart illustrates a support level at 29.57, which if violated will result in even more drops to 29.48. On the upside, there is a resistance level at 29.83. A further resistance level may holdings at 29.99. The Relative Strength Index (RSI) on the 14-day chart is 39.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.59, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.97%. Stochastics %K at 9.69% 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 2024-12-13, dropping by -4.21 million shares to a total of 25.89 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 30.1 million shares. There was a decline of -16.25%, which implies that there is a negative sentiment for the stock.
