India Capital Growth Fund Limited Stock Forecast
India Capital Growth Fund Limited stock price up 1.18% on Friday
(Updated on May 17, 2024)
The India Capital Growth Fund Limited stock price gained 1.18% on the last trading day (Friday, 17th May 2024), rising from £169.00 to £171.00. During the last trading day the stock fluctuated 3.56% from a day low at £168.50 to a day high of £174.50. The price has fallen in 6 of the last 10 days and is down by -7.82% for this period. Volume fell on the last day by -70 thousand shares and in total, 205 thousand shares were bought and sold for approximately £35.10 million. 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.42% during the next 3 months and, with a 90% probability hold a price between £133.74 and £175.98 at the end of this 3-month period.
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IGC.L Signals & Forecast
The India Capital Growth Fund Limited 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 £172.53. On a fall, the stock will find some support from the long-term average at approximately £169.57. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, May 02, 2024, and so far it has fallen -7.82%. 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).
Support, Risk & Stop-loss for India Capital Growth Fund Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at £158.00 and £154.00. 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 Capital Growth Fund Limited finds support just below today's level at £158.00. If this is broken, then the next support from accumulated volume will be at £154.00 and £145.50.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £6.00 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IGC.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect India Capital Growth Fund Limited to open at £171.33, and during the day (based on 14 day Average True Range), to move between £164.56 and £177.44, which gives a possible trading interval of +/-£6.44 (+/-3.77%) up or down from last closing price. If India Capital Growth Fund Limited takes out the full calculated possible swing range there will be an estimated 7.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £174.00 (1.75%) than the support at £158.00 (7.60%), 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 Capital Growth Fund Limited stock A Buy?
India Capital Growth Fund Limited 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: -1.187 Sell Candidate Unchanged
Predicted Opening Price for India Capital Growth Fund Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £171.33 ( 0.195%) | £171.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGC.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 177.33 | 3.70 % | |
| R2 | 175.04 | 2.36 % | ||
| R1 | 173.63 | 1.54 % | ||
| Current price: | 171.00 | |||
| Support | S1 | 169.04 | -1.15 % | |
| S2 | 167.63 | -1.97 % | ||
| S3 | 165.33 | -3.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 185.50 | 8.48 % | |
| R2 | 183.00 | 7.02 % | ||
| R1 | 174.00 | 1.75 % | ||
| Current price | 171.00 | |||
| Support | S1 | 158.00 | -7.60% | |
| S2 | 154.00 | -9.94% | ||
| S3 | 145.50 | -14.91% |
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