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Alert: Mega Bounce On ICICI Bank Limited On Horizon



August 28, 2013 – Comments (0) | RELATED TICKERS: IBN

ICICI Bank Limited (NYSE:IBN) is an Indian bank. The Indian stock market has been crushed and this stock has fallen with it. This is one of the largest banks in India. ICICI Bank has fallen from $48.44 in May to its 52 week low of $24.94 today. The stock opened sharply lower and reversed. This reversal near the $24.50 major double bottom from 2011 shows a possible near term mega bounce in progress.

The bounce on ICICI should take the stock all the way back to $30.00. This opens up a great risk reward trade in the near term. Cheers!

Gareth Soloway


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