Hello All! This is my first post. Please don't be too cruel to me. I am new to technical analysis, candlesticks and charting. I want to learn and hopefully successfully apply all the good ideas to manage / grow my savings. I personally do not think Alcoa is going out of business any time soon. The stock price is at its low, if not the lowest level. I believe...
Long AA on pivot breakout. Stop loss 9.69
Clearly bearish for some time. When Green MA < close, there is a higher probability of accumulation; which implies a small position to reduce risk. Obey your rules
There is some structure and fibonacci levels stating that alcoa is ready for little bounce. First target 38,2% fib level. Alternative target is 50% level. Risk revard is 1.8. Keep your eyes on Greece news for possible panic reactions in markets. edit: Earnings on wednesday NO TRADE HERE!
AA has been on a downtrend for a while now and if it spikes up to 13, a clear short will be signaled if we get a reversal signal such as a candlestick patterns or head and shoulders on lower time frame. Lots of confluence and you will be going with the trend.
Bullish momentum divergence seen here on AA after a kiss off of trend line. Today brought buyers back in to close above yesterday's highs signaling our long entry - this also came on higher volume than our most recent low day. This area also was seen as previous support back from early last year which should act as support for this to be a nice little move higher...
AA expected to open at 13.47 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com
ALCOA shares stock accumulation at current levels. Notes on chart
Been investing in AA from $10 to $8 then sold it at $12 and $17 just on speculation, good luck eh? I still like AA for its world economic value and would love it to go back in to that range, so I can pick up some shares. Anyone have any ideas how this market or stock might behave in the next 12mo.?
Preceeding uptrend was very clean and strong, than topping volatility came in and formed what seems to be a diamond top ready for reversal. Entry on the break of the diamond or a breakdown below 15. Possible support zones around 15 and then 13 and 12. The diamond price target would bring it right into the longterm .618 retracement. RSI seems to be breaking lower...
1. Sideways bullish 2. Support Confluence 3. Above MA200 Elder blue
$AA Nice to see Alcoa back with a healthy chart. Back to high $16s possible.
Institutions bought at the bottom and quickly reversed the downmove. I can see a clear build up of buy stops where institutions will push price up to take profits or keep pressing to new highs.
It looks like there were a whole bunch of Buy limit orders waiting at the bottom of the Gap on the left because price quickly rejected that level. This was a classic liquidity grab by the big institutions because the double bottom created the necessary liquidity for the big boys to participate on the long side. Only big money can stop the fall and reverse it,...