Score 7.7 (out of 10): ICICI BANK LTD-SPON ADR sets up for +8.3% rally in 2 months

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What’s Going On Here?

ICICI Bank Limited is an Indian multinational bank and financial services company. The company has successfully completed a capital raise via bonds at 7.12% per annum coupon rate.

Why Now?

ICICI BANK LTD-SPON ADR has triggered a new high volatility signal (3 month). During similar occasions, ICICI BANK LTD-SPON ADR shares had a median return of +8.3%, over the following 2 months – based on 10 historical occasions with 8 of those showing positive returns (80%). This buy signal for ICICI BANK LTD-SPON ADR received a high score of 7.7 (out of 10). This insight was generated on 2022-March-16 with last price of 18.80.

What’s This Company About?

ICICI BANK LTD-SPON ADR is in the Commer Banks Non-US business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. Ticker symbol: ICICIBC IN.

What’s My Risk / Reward and Time Horizon?

We found 2 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 20.36 (+8.3%) has been reached. Based on ICICI BANK LTD-SPON ADR’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 17.8 (last price at 18.8), which is equivalent to a -5.3% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

10.9% (May-2020), 2.2% (March-2020), -3% (September-2019), 7.5% (February-2019), 13.3% (December-2018), -8.7% (October-2018), 30.7% (June-2018), 29.5% (April- 2018), 9.2% (December-2017), 5.3% (April-2016).

Historical Chart:

Summary:

NameICICI BANK LTD-SPON ADR
ViewUp
Star (1 to 10)7.7
Target+8.3%
Time2 months
Hit Rate80%

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