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Advanced TA SearchArchive
- 4/26/2024 -
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The India Fund Inc. (IFN) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a first positive week after 3 consecutive negative weeks for the The India Fund Inc. (IFN). During the week, the IFN gained 0.64 points, or 3.63%, and closed at 18.28 on Friday, April 26, 2024. Weekly volume was 15% above average.
 Long-term trend: [See IFN long-term trend chart]
A long-term uptrend had started on March 28, 2023 at 14.40 and reached 21.23 on March 8, 2024. IFN gained -6.83 points, or -47.43%, in 49 weeks. The price is now at the 43.19% retracement level.
 Medium-term trend: [See IFN medium-term trend chart]
A medium-term downtrend had started on March 8, 2024 at 21.23 and reached 17.20 on April 17, 2024. IFN lost 4.03 points, or 18.98%, in 5 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 16.43 and resistance is at 20.47. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See IFN weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
Short-term trend: [See IFN short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 17.20 and reached 18.69 on April 24, 2024. IFN gained -1.49 points, or -8.66%, in 7 days. The price is now at the 27.52% retracement level.
 Daily Technical Indicators: [See IFN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 5, 2024. The distance between MACD and the signal line is low and getting smaller.
The distance between the Bollinger Bands is 208.26% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See IFN candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.
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