India Globalization Capital Inc Stock Forecast

Red day on Tuesday for India Globalization Capital Inc
(Updated on Jul 02, 2024)

IGC Signals & Forecast

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. The India Globalization Capital Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.436 and $0.476. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -21.80%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for India Globalization Capital Inc stock

India Globalization Capital Inc finds support from accumulated volume at $0.430 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0176 between high and low, or 4.18%. For the last week the stock has had daily average volatility of 5.82%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (IGC) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect India Globalization Capital Inc to open at $0.430, and during the day (based on 14 day Average True Range), to move between $0.386 and $0.474, which gives a possible trading interval of +/-$0.0442 (+/-10.28%) 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 20.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.430 (0.02%) than the resistance at $0.476 (10.70%), 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?

India Globalization Capital Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.555 Sell Candidate Unchanged

Predicted Opening Price for India Globalization Capital Inc of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.