IGC Had Quite A Day

We saw another big move in IGC, India Globalization Capital, in trading today. The stock traded as high as $7.48 before retreating to under $6 per share in the latter part of the session. This stock signaled a long entry for us a few days ago at $3.25, and I expected to be in the signal for a few weeks at least. However, momentum came in very strong and the stock now could potentially move us much more than where it is now, but that means the risk is much greater also. Here’s what happened and what we’re looking for in the near term.