IGC Pharma, Inc. (IGC)

[sweet crude]

IGC issued buy under $4.00 this morning

(NEW YORK) – Ludlow Research has issued an alert on India Globalization Capital, Inc. (NYSE: IGC), a hemp/CBD infused energy drink company, stating an attractive technical analysis opportunity below $4.00 per share.

Alert Summary

IGC recent run from around $0.50 in mid- September to a high of $15.00 in the beginning of October made IGC one of the more discussed cannabis plays in the wild run in marijuana and CBD related stocks had in recent weeks. IGC, along with other plays in this sector, had gotten extremely over bought with an RSI at a stunning 90, which obviously foretold this stock was due for a major correction.

Ludlow Research issued opinion that IGC needed to see its RSI break back below 50, and test its 50-day moving to offer a more reasonable buying opportunity for traders who felt they missed the last run. Based on these factors Ludlow Research sees IGC below $4.00, and above its 50-day moving average at $3.00 as a more attractive entry range for traders looking to take a positions.

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CBD Infused Beverage Plays

– India Globalization Capital (IGC)
– Puration Inc (PURA)
– American Premium Water (HIPH)
– AppSwarm (SWRM)

About IGC

IGC has two lines of business, a legacy infrastructure business and a medical cannabis business that has developed a flagship product for Alzheimer’s patients. The Company recently announced that it will develop and commercialize a hemp/CBD infused energy drink. The company is based in Maryland, U.S.A. Our website: www.igcpharma.com

http://wallstreetnewscast.com/igc-1019/