India Globalization Capital Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in India Globalization Capital Inc stock price on Friday which ended trading at $0.458
(Updated on Apr 26, 2024)
The India Globalization Capital Inc stock price gained 6.51% on the last trading day (Friday, 26th Apr 2024), rising from $0.430 to $0.458. During the last trading day the stock fluctuated 18.79% from a day low at $0.418 to a day high of $0.496. The price has been going up and down for this period, and there has been a 4.07% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 542 thousand more shares were traded than the day before. In total, 772 thousand shares were bought and sold for approximately $353.57 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 $0.435 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 58.73% during the next 3 months and, with a 90% probability hold a price between $0.690 and $1.21 at the end of this 3-month period.
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IGC Signals & Forecast
The India Globalization Capital Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.456 and $0.450. A breakdown below any of these levels will issue sell signals. India Globalization Capital Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 -33.61%. 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). 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0784 between high and low, or 18.79%. For the last week, the stock has had daily average volatility of 15.56%.
Our recommended stop-loss: $0.429 (-6.28%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (IGC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect India Globalization Capital Inc to open at $0.457, and during the day (based on 14 day Average True Range), to move between $0.373 and $0.543, which gives a possible trading interval of +/-$0.0850 (+/-18.55%) 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 37.11% 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 (3.95%) than the support at $0.378 (17.42%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.979 Buy Candidate Upgraded
Predicted Opening Price for India Globalization Capital Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.457 ( 0.178%) | $0.458 |
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 | 0.536 | 16.95 % | |
| R2 | 0.506 | 10.41 % | ||
| R1 | 0.487 | 6.36 % | ||
| Current price: | 0.458 | |||
| Support | S1 | 0.427 | -6.72 % | |
| S2 | 0.409 | -10.76 % | ||
| S3 | 0.379 | -17.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.536 | 16.92 % | |
| R2 | 0.486 | 6.11 % | ||
| R1 | 0.476 | 3.95 % | ||
| Current price | 0.458 | |||
| Support | S1 | 0.378 | -17.42% | |
| S2 | 0.349 | -23.80% | ||
| S3 | 0.345 | -24.78% |
FAQ
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