It seems we reached the end of an impulse, and that means there a new road going South.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets going down are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere...
Today we will speak about ALCOA: In March, we posted the expected movement of the current trend (Link to related ideas). After 2 months, the price has already reached a major Resistance zone that has been working since 2010
Now we are asking the question. What's next?
To answer this, we will use the previous price information we have to develop possible paths...
A confluence of bearish indications
Alcoa's share price is currently probing the psychologically significant resistance level at 40.00, which serves as the upper boundary of a major accumulation range. The latter's lower end is represented by the support level at 17.00.
Breaking higher would prove quite difficult for the share price due to the massive selling...
$AA on an upward channel.
Buy zone around $31
Stoploss around $29.
Happy Trading, from CJ -- aka the greatest FURU.
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Alcoa (NYSE:AA) was a big winner Friday, as the stock closed up $32 on decent volume. I feel that there will be a continuation move next week, but I want to see a close above $33 before I buy. There are several short term technical indications suggesting that AA could make a move to higher levels. Worth putting on the watchlist.
This is a simple post, mainly for people holding this stock and want to have an idea of exit levels or what to expect in the coming weekly candlesticks.
-Our approach to any chart is straightforward. It is based on analyzing things that happened in the past in specific areas and then replicating those conditions to the present to understand how the price can...
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Analysis of #ALCOA CORPORATION
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Strategy: Bearish BAT With potential Max R/R 2.95%
$AA Alcoa Corp - Oversold finding support just above $11.50 this week. Expecting to see a near term bounce from this level.
Adding to the bullish sentiment - some unusual options activity Friday:
19k $14.00 strike (far OTM) Jan'21 calls traded vs open interest of 1,156 or 16 times OI for a total premium outlay of $1.5M
Near term price target = $13.00-$14.00...
Double Top has formed for ALCOA CORPORATION which gives us signal to SHORT. However, if the price breaks the resistance level 14.00, upside movement will most likely to happen. To note, the current price is currently on the lowest pivot point, it might also gives us signal that V-shape recovery would likely to happen if the stock price rallies to go up.