marketfellow

Broadening Formation with Short Base (AA)

Long
NYSE:AA   Alcoa Corporation
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- Broadening formation from December 2020 to February 2021
- Top-bottom was 28-18
- Noticed breakout 28 in early March
- Short base and consolidation in March offered an entry point at 32 at top of the upper boundary
- Opened @32.37 on 03/26. It did not rally immediately but moved around 32
- Once it started to climb, AA went straight up to finish +34% profits
- Please note that it is hard to find other entry points for this type of pattern

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