Razvan
Long

Alcoa, Rio Tinto and ACH - long perspectives

BATS:AA   ALCOA CORP
623 10 3
Rio             Tinto is one of the biggest extracting companies, of aluminium, so it has a direct correlation with its price. We can observe higher highs and lows. (On the aluminium price a double bottom formation is almost finalized, a break might bring further appreciation)

Alcoa             and Aluminum Corporation of China Limited, have also a direct correlation with the aluminium price. And as we can see they are consolidating really close to a bottom. A rise in the price of the metal will drag a rise in the stocks price.

RIO             TINTO - The bounce from the trend line might send the price to the rejection line
ALCOA             - A break through the resistance might send the price to the price pattern's target
ACH             - The bounce from the rejection line might send the price to the resistance, and later confirm the upward move with a HL, just like RIO             and AA.

Overall bullish signs from the TA, but also positive signals from the fundamentals which might help Aluminium price to get higher.
Razvan
4 years ago
Nice changes in the price of RIO and Alcoa, let's see if ACH can keep up
snapshot
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Razvan
4 years ago
Rio right over the last top, next to the trend line, Alcoa almost hit the target and ACH close to the resistance .
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charttrader PRO Razvan
4 years ago
Everything going up:)
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Razvan charttrader
4 years ago
The FED decision came as a confirmation for the up move, this way China might follow and good conditions for aluminium imports will be created :)
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