Morgan Stanley India Investment Fund Inc Stock Forecast
Weaker technical forecast for Morgan Stanley India Investment Fund Inc as stock downgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The Morgan Stanley India Investment Fund Inc stock price gained 0.93% on the last trading day (Thursday, 2nd May 2024), rising from $23.53 to $23.75. During the last trading day the stock fluctuated 0.97% from a day low at $23.62 to a day high of $23.85. The price has risen in 8 of the last 10 days and is up by 5.09% 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, 14 thousand more shares were traded than the day before. In total, 31 thousand shares were bought and sold for approximately $735.06 thousand.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $23.60 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $24.64 sometime during the next 3 months.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IIF Signals & Forecast
The Morgan Stanley India Investment Fund Inc 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 $23.44 and $22.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.18%. 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). Morgan Stanley India Investment Fund Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Morgan Stanley India Investment Fund Inc stock
Morgan Stanley India Investment Fund Inc finds support from accumulated volume at $23.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.230 between high and low, or 0.97%. For the last week the stock has had daily average volatility of 0.631%.
Our recommended stop-loss: $22.66 (-4.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (IIF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Morgan Stanley India Investment Fund Inc to open at $23.74, and during the day (based on 14 day Average True Range), to move between $23.56 and $23.94, which gives a possible trading interval of +/-$0.186 (+/-0.78%) up or down from last closing price. If Morgan Stanley India Investment Fund Inc takes out the full calculated possible swing range there will be an estimated 1.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $23.34, some $0.410 (1.73%) from the current price of $23.75, our system finds the risk reward attractive.
Is Morgan Stanley India Investment Fund Inc stock A Buy?
Morgan Stanley India Investment Fund Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Morgan Stanley India Investment Fund Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $23.74 ( 0.0422%) | $23.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IIF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.97 | 0.93 % | |
| R2 | 23.88 | 0.556 % | ||
| R1 | 23.83 | 0.328 % | ||
| Current price: | 23.75 | |||
| Support | S1 | 23.65 | -0.412 % | |
| S2 | 23.60 | -0.640 % | ||
| S3 | 23.51 | -1.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 23.75 | |||
| Support | S1 | 23.34 | -1.73% | |
| S2 | 22.58 | -4.93% | ||
| S3 | 22.54 | -5.09% |
IIF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 05, 2023 | Dec 14, 2023 | Jan 12, 2024 | $3.14 | 13.91% |
| 2 | Dec 06, 2022 | Dec 15, 2022 | Jan 15, 2019 | $3.98 | 19.67% |
| 3 | Dec 09, 2021 | Dec 16, 2021 | Jan 14, 2022 | $1.00 | 3.56% |
| 4 | Dec 10, 2020 | Dec 17, 2020 | Jan 15, 2021 | $0.0040 | 0.0180% |
| 5 | Dec 12, 2019 | Dec 19, 2019 | Jan 15, 2020 | $0.0280 | 0.135% |
FAQ
Click here for our free guide on how to buy Morgan Stanley India Investment Fund Inc Stock.
