Alcoa is still doing well and the continues its trend since October 2013 and gains 80% up to now.
It is moving along a channel which is a little bite like an ascending wedge.
There is more rooms to hikes , but ones has to be careful and tight the SL
On the other hand the volume is not significant .
A doji right at the resistance trend line is another sign to be...
Alcoa Inc (NYSE:AA) is the best performing Dow Jones Industrial Average stock of 2014. It has been a monster, hitting a new 52 week high today of $13.18. While this seems great, it may have put in a top today. After surging early in the day, the stock has reversed and gone negative. There is a possible topping tail on the daily chart and it is up 50% in the last...
Alcoa continues to look strong. It just completed an IHS as it looks to move higher. A break
to confirm appears imminent. I have a target near 13.30 with a stop of 11.70. Next is
an RSI study where below the red line is buy zone and above yellow line is sell zone roughly.
I don't really like the risk/reward ratio. However, the SL level is based on the certificate I'd like to trade (WKN: CK4E6R), but it's probably a good idea to take losses once AA breaks above $11.00.
Price has broken-out of a a bullish falling wedge pattern on heavy volume, first target was at 9.93 resistance level, and a break above this resistance may extend the upside to 10.90 next resistance level. Overall, I have a bullish bias for the stock.
This pattern has been forming for some time now, and I've been watching for any signs of strength to buy into this security as a long term play/investment. Unfortunately, I still cannot see the light at the end of the tunnel to warrant any serious investment; despite my reluctance to commit any size to this, a small technical play may be worth a punt.
Monitoring...
Emerging trend in basic material stocks. One of the best long opportunities is with Alcoa. Benefits from the airline consolidation and Boeing producing more airplanes.
I've been watching this for several weeks. The flags on this chart indicates anomalies between price action and volume indicating to me Insider buying. I've noted quite a few in past weeks. As it approached resistance I anticipated a pull back especially since it coincided with media reports of AA getting pulled from the Dow 30. It popped over a long established...
Alcoa closed below 8 dollars in June for the first time since 2009, Price now appears to be recovering nicely here off it's recent lows, as price bounced off neckline support yesterday despite being a tough day in the market. Next resistance is at 8.25 and then the yellow downtrend line. Looking for a long target near 8.60.
AA is still in neutral territory, but once the WMA 21 is broken we shall see much lower rates.
I prefer this as volume fell considerably at the resistances Gann 2/1 and upper Bollinger.
