ICICI Bank Limited Stock Forecast
ICICI Bank Limited stock price ended at $27.57 on Thursday, after gaining 0.0726%.
(Updated on May 02, 2024)
The ICICI Bank Limited stock price gained 0.0726% on the last trading day (Thursday, 2nd May 2024), rising from $27.55 to $27.57. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.709% from a day low at $27.51 to a day high of $27.70. The price has risen in 8 of the last 10 days and is up by 8.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 681 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $143.08 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $27.18, a level that may pose a second chance to hit a runner. According to fan-theory $28.60 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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IBN Signals & Forecast
The ICICI Bank Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $27.06 and $26.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.42%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ICICI Bank Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $25.96 and $25.75. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ICICI Bank Limited finds support just below today's level at $25.96. If this is broken, then the next support from accumulated volume will be at $25.75 and $25.63.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.195 (0.709%) between high and low. For the last week, the stock has had daily average volatility of 0.87%.
Our recommended stop-loss: $26.50 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (IBN) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect ICICI Bank Limited to open at $27.59, and during the day (based on 14 day Average True Range), to move between $27.20 and $27.94, which gives a possible trading interval of +/-$0.367 (+/-1.33%) up or down from last closing price. If ICICI Bank Limited takes out the full calculated possible swing range there will be an estimated 2.67% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $25.96, some $1.61 (5.84%) from the current price of $27.57, our system finds the risk reward attractive.
Earnings coming up
ICICI Bank Limited will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.370. We will update the financials statements for ICICI Bank Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.94% in the first trading day after earnings release.
Is ICICI Bank Limited stock A Buy?
ICICI Bank Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for ICICI Bank Limited of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$27.59 ( 0.0786%) | $27.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IBN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.79 | 0.786 % | |
R2 | 27.71 | 0.516 % | ||
R1 | 27.67 | 0.349 % | ||
Current price: | 27.57 | |||
Support | S1 | 27.52 | -0.192 % | |
S2 | 27.47 | -0.359 % | ||
S3 | 27.40 | -0.629 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 27.57 | |||
Support | S1 | 25.96 | -5.84% | |
S2 | 25.75 | -6.60% | ||
S3 | 25.63 | -7.04% |
IBN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 19, 2023 | Aug 08, 2023 | Aug 08, 2023 | $0.195 | 0.82% |
2 | Jul 15, 2022 | Aug 09, 2022 | Aug 09, 2022 | $0.126 | 0.591% |
3 | Jul 28, 2021 | Jul 28, 2021 | Sep 07, 2022 | $0.0540 | 0.241% |
4 | Jul 15, 2019 | Jul 23, 2019 | Aug 13, 2019 | $0.0290 | 0.251% |
5 | Jun 05, 2017 | Jun 19, 2017 | Jun 21, 2017 | $0.0700 | 0.786% |
FAQ
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