The stock of India Globalization Capital, Inc. (NYSE:IGC) is now priced at $1.3 and the shares are 0 points down or 0% lower compared to its previous closing price of $1.3. The stock had 1.172 million contracts set over the past session. IGC shares’ daily volume is compared to its average trading volume at 11.393 million shares. However, it has a float of 35.35 million and although its performance was 3.17% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the IGC share price recently placing at $1.25 to $1.31. However, some brokerage firms have priced the stock below the average, including one that has called $3.05.

The shorts are running away from the India Globalization Capital, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the IGC shares have declined. Short interest in the stock represents just 12.26% of its float, but the volume has dropped by 0.

In the last trading session, India Globalization Capital, Inc. (NYSE:IGC) raised by $0.04 over the week and gained $0.69 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.5. The stock recorded its established 52-week high on 08/13/20.

Since 03/18/20, the stock has traded to a low of $0.263 at 394.3%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 4.54. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, India Globalization Capital, Inc.’s two-week RSI is 52.37. This suggests that the stock is neutral at the moment and that IGC shares’ price movement remains stable. The stochastic readings are equally revealing at 17.66% meaning the IGC share price is currently in overbought territory.

The technical chart shows that the IGC stock will likely settle at between $1.3233 and $1.3467 per share. However, if the stock dips below $1.2633, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.2267.

Currently, the stock is trading in the red of MACD, with a reading of -0.0978. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.