Score 8.8 (out of 10): ICICI BANK LTD-SPON ADR poised to rally +12.2% rally in 1 month

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What’s Going On Here?

ICICI’s business is going well and the bank is confident that its recent increases in credit card fees will not hurt business.

Why Now?

ICICI BANK LTD-SPON ADR has reached a new shorter-term low. Previously, during similar occasions, ICICI BANK LTD-SPON ADR shares had a median return of +12.2%, over the following 1 month based on 10 historical occasions with 9 of those showing positive returns (90% hit ratio). This buy signal for ICICI BANK LTD-SPON ADR received a high score of 8.8 (out of 10). This insight was generated on 2022-February-11 with last price of 20.67.

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 1 month 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 23.19 (+12.2%) 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 20.07 (last price at 20.67), which is equivalent to a -2.9% 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’ shown under (2), etc. 

Previous episodes:

12.2% (September-2021), 0.6% (June-2021), 16% (January-2021), 18% (September-2020), 12.2% (May-2020), 2.2% (January-2020), -4% (July-2019), 8.9% (May-2019), 19.1% (February-2019), 16.4% (December-2018).

Historical Chart:

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Summary:

NameICICI BANK LTD-SPON ADR
ViewUp
Star (1 to 10)8.8
Target+12.2%
Time1 month
Hit Rate90%

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