adamtokola

Alcoa Inc (AA)

NYSE:AA   ALCOA CORP
28 0 0
Possible Hold

Speculation & Technical Analysis
Double top formation
o Could be bearish
o Wait for confirmation, around the low 9s to breakdown (Short)
o Double top reversal @ low 10s (Long)
Chinese Aluminum Market/Economy
China Driving the Commodity Rally
• Chinese aluminum production will likely increase by 1.4 million tons this year
• Negative impacts because of slower demand growth
• Europe in expansionist mode?
o more lending, and if there is more lending then there will be more buying
o Twenty-five percent of Chinese exports go to Europe, so what's good for Europe is going to be good for commodities .
• 10 million people are expected to be lifted out of poverty this year

The Street
• Prices of metals are benefiting from optimism that global growth is rebounding.
• Aluminum prices remain below $1,600 per metric ton after falling more than 40% last year
Alcoa            
• Under pressure through 2015, 28% decline over the past 12 months
• China has an abundant supply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out