India Globalization Capital Inc Stock Forecast
India Globalization Capital Inc stock price down 0.96% on Friday
(Updated on May 10, 2024)
The India Globalization Capital Inc stock price fell by -0.96% on the last day (Friday, 10th May 2024) from $0.520 to $0.515. During the last trading day the stock fluctuated 5.80% from a day low at $0.510 to a day high of $0.540. The price has fallen in 6 of the last 10 days but is still up by 12.45% over the past 2 weeks. Volume has increased on the last day by 30 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 260 thousand shares were bought and sold for approximately $134.03 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.479 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 51.95% during the next 3 months and, with a 90% probability hold a price between $0.728 and $1.22 at the end of this 3-month period.
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IGC Signals & Forecast
The India Globalization Capital Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.518. On a fall, the stock will find some support from the long-term average at approximately $0.500. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -25.35%. Further fall is indicated until a new bottom pivot has been found. India Globalization Capital Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for India Globalization Capital Inc stock
India Globalization Capital Inc finds support from accumulated volume at $0.508 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0296 between high and low, or 5.80%. For the last week, the stock has had daily average volatility of 6.68%.
Our recommended stop-loss: $0.491 (-4.74%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (IGC) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect India Globalization Capital Inc to open at $0.522, and during the day (based on 14 day Average True Range), to move between $0.448 and $0.582, which gives a possible trading interval of +/-$0.0675 (+/-13.10%) up or down from last closing price. If India Globalization Capital Inc takes out the full calculated possible swing range there will be an estimated 26.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.508 (1.36%) than the resistance at $0.536 (3.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is India Globalization Capital Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for India Globalization Capital Inc stock to perform well in the short-term.
Current score: 2.763 Buy Candidate Unchanged
Predicted Opening Price for India Globalization Capital Inc of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.522 ( 1.32%) | $0.515 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.551 | 7.07 % | |
| R2 | 0.540 | 4.87 % | ||
| R1 | 0.533 | 3.52 % | ||
| Current price: | 0.515 | |||
| Support | S1 | 0.510 | -0.88 % | |
| S2 | 0.504 | -2.23 % | ||
| S3 | 0.492 | -4.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.640 | 24.35 % | |
| R2 | 0.587 | 13.88 % | ||
| R1 | 0.536 | 3.98 % | ||
| Current price | 0.515 | |||
| Support | S1 | 0.508 | -1.36% | |
| S2 | 0.486 | -5.63% | ||
| S3 | 0.476 | -7.55% |
FAQ
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