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Archive
- 11/8/2024 -
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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 0.21 points, or 1.19%, and closed at 17.85 on Friday, November 8, 2024. It was the best weekly gain since September 27, 2024. IFN was trading at average weekly trading volume.
 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 49.49% retracement level.
 Medium-term trend: [See IFN medium-term trend chart]
A medium-term uptrend had started on June 4, 2024 at 16.62 and reached 19.25 on September 26, 2024. IFN gained -2.63 points, or -15.82%, in 16 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (18.79) 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 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 October 25, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See IFN short-term trend chart]
A short-term downtrend had started on September 26, 2024 at 19.25 and reached 17.42 on October 31, 2024. IFN lost 1.83 points, or 9.51%, in 35 days. The chart has formed a Broadening Descending Wedge chart pattern.
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. 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 Lane's Stochastic help.
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.
 Candlestick pattern: [See IFN candlestick chart pattern]
On Friday the chart has formed a Bullish Upside Tasuki Gap Candlestick pattern. A Bullish Upside Tasuki Gap pattern is a continuation pattern and it appears in a strongly upward market. The reliability of the Bullish Upside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Upside Tasuki Gap Candlestick pattern during the last week.
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