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Uptrend Broken SupportArchive
- 5/3/2024 -
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The India Fund Inc. (IFN) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was the negative week for the The India Fund Inc. (IFN). During the week, the IFN dropped -0.20 points, or -1.09%, and closed at 18.08 on Friday, May 3, 2024. Weekly volume was 47% 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 46.12% 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 15.87 and resistance is at 20.36. 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 technical indicators are neutral.
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 chart has formed a Symmetric Triangle chart pattern. The uptrend support line (18.60) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
Daily Technical Indicators: [See IFN daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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