India Globalization Capital Inc Stock Forecast
High volatility in India Globalization Capital Inc stock price on Tuesday which ended trading at $0.457
(Updated on Apr 23, 2024)
The India Globalization Capital Inc stock price gained 2.58% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.445 to $0.457. During the last trading day the stock fluctuated 17.11% from a day low at $0.418 to a day high of $0.490. The price has fallen in 6 of the last 10 days and is down by -20.59% for this period. Volume fell on the last day by -127 thousand shares and in total, 520 thousand shares were bought and sold for approximately $237.24 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $0.444 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 64.24% during the next 3 months and, with a 90% probability hold a price between $0.730 and $1.23 at the end of this 3-month period.
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IGC Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -33.82%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 $0.483. On a fall, the stock will find some support from the long-term average at approximately $0.441. 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. The stock had a Golden Star Signal on Tuesday, February 06, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, February 06, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for India Globalization Capital Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.378 and $0.349. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, India Globalization Capital Inc finds support just below today's level at $0.378. If this is broken, then the next support from accumulated volume will be at $0.349 and $0.345.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0716 between high and low, or 17.11%. For the last week the stock has had daily average volatility of 18.06%.
Our recommended stop-loss: $0.430 (-5.80%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (IGC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect India Globalization Capital Inc to open at $0.455, and during the day (based on 14 day Average True Range), to move between $0.364 and $0.549, which gives a possible trading interval of +/-$0.0923 (+/-20.21%) 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 40.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.476 (4.27%) than the support at $0.378 (17.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is India Globalization Capital Inc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.381 Buy Candidate Unchanged
Predicted Opening Price for India Globalization Capital Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.455 ( 0.350%) | $0.457 |
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 | 0.527 | 15.33 % | |
| R2 | 0.499 | 9.34 % | ||
| R1 | 0.482 | 5.64 % | ||
| Current price: | 0.457 | |||
| Support | S1 | 0.428 | -6.34 % | |
| S2 | 0.411 | -10.04 % | ||
| S3 | 0.383 | -16.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.536 | 17.28 % | |
| R2 | 0.486 | 6.44 % | ||
| R1 | 0.476 | 4.27 % | ||
| Current price | 0.457 | |||
| Support | S1 | 0.378 | -17.17% | |
| S2 | 0.349 | -23.57% | ||
| S3 | 0.345 | -24.55% |
FAQ
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