A Reversal for The India Fund, Inc. (IFN) Is Near. The Formed Multiple Top Chart Pattern

November 7, 2017 - By Hazel Jackson

Investors sentiment decreased to 0.95 in Q2 2017. Its down 0.77, from 1.72 in 2017Q1. It is negative, as 6 investors sold The India Fund, Inc. shares while 14 reduced holdings. 4 funds opened positions while 15 raised stakes. 8.40 million shares or 4.93% less from 8.83 million shares in 2017Q1 were reported.
Montgomery Inv Management Inc reported 0.11% in The India Fund, Inc. (NYSE:IFN). Royal Commercial Bank Of Canada holds 0% or 49,502 shares. The Illinois-based Blair William & Il has invested 0% in The India Fund, Inc. (NYSE:IFN). Fifth Third Retail Bank has invested 0% in The India Fund, Inc. (NYSE:IFN). North Star Inv Management Corp reported 4,871 shares or 0.02% of all its holdings. Wolverine Asset Management Ltd Liability Corporation holds 0.02% of its portfolio in The India Fund, Inc. (NYSE:IFN) for 53,580 shares. Peregrine Asset Advisers holds 0.17% or 9,675 shares in its portfolio. Perkins Coie Trust owns 1,425 shares. 34,720 are held by Van Hulzen Asset Lc. Group Inc One Trading L P holds 1 shares. Cetera Advisors Limited Liability Co holds 0.02% or 9,054 shares in its portfolio. James Invest holds 0.02% of its portfolio in The India Fund, Inc. (NYSE:IFN) for 29,114 shares. 498 are held by Kistler. 1832 Asset Mngmt Lp reported 411 shares or 0% of all its holdings. Css Ltd Il stated it has 0.05% in The India Fund, Inc. (NYSE:IFN).

The stock of The India Fund, Inc. (IFN) shows a multiple tops pattern with $30.43 target or 9.00 % above today’s $27.92 share price. The 8 months chart pattern indicates low risk for the $793.03M company. It was reported on Nov, 7 by Finviz.com. If the $30.43 price target is reached, the company will be worth $71.37 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

About 79,950 shares traded. The India Fund, Inc. (NYSE:IFN) has risen 26.28% since November 7, 2016 and is uptrending. It has outperformed by 9.58% the S&P500.

More important recent The India Fund, Inc. (NYSE:IFN) news were published by: Nasdaq.com which released: “Hermes Investment Management Ltd Buys TJX Inc, JD. …” on October 19, 2017, also Gurufocus.com published article titled: “Hermes Investment Management Ltd Buys TJX Inc, JD.com Inc, Hess Corp, Sells US …”, Prnewswire.com published: “The India Fund, Inc. Announces Distribution” on September 12, 2017. More interesting news about The India Fund, Inc. (NYSE:IFN) was released by: Seekingalpha.com and their article: “Why Aren’t There More Publicly Traded Interval Funds?” with publication date: June 02, 2017.

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