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After Yesterday's Decline of 2.24%, ICICI Bank Offers Investors Better Value
[March 28, 2012]

After Yesterday's Decline of 2.24%, ICICI Bank Offers Investors Better Value

Mar 28, 2012 (SmarTrend(R) News Watch via COMTEX) -- ICICI Bank (NYSE:IBN) traded in a range yesterday that spanned from a low of $33.38 to a high of $34.25. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $34.46 on volume of 4.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Over the past year, ICICI Bank has traded in a range of $24.14 to $51.50 and is now at $34.08, 41% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for ICICI Bank and will alert subscribers who have IBN in their portfolio or watchlist when shares have changed trend direction.


Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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