It can be rotated 360? It can be locked into position by tightening the knurled nut.
Everything looks and works just like new! It will work perfectly for you! The original red cardboard protective box has done a very good job of protecting this tool.
It looks great, is still very solid, and will continue to protect it for many years to come. Please look at all of the photographs as they can help describe the condition of this indicator attachment much better than I can. This American made tool is ready to go to work immediately and would make a great addition to any precision toolbox.