Alert: Mega Bounce On ICICI Bank Limited On Horizon
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!