Greenbar sits on the breakout position with 11 months of consolidation
5/10/20/60 are lining below over200MA
MACD splits with 2nd Greenbar + strong signal
over the oblique resistance
expect earning to be good in near future
Market Cap about 6B
More investors are joining the group
1st Target : $48
2nd Target : $58
Alcoa has fought higher since October, and some traders may expect further upside.
The first pattern on today’s chart is the December 27 high of $35.03. The aluminum company rallied above that level in early April and retested it in mid-April. Has old resistance become new support?
Second, AA is nearing its previous 52-week high of $38.20. Chart watchers could...
Testing top of range after bull flag breakout. Huge double bottom sideways range with 37.75 reistance. We may be on verge of breakout right now. Hold tight stops could attempt entrys here. If we dip in 36 and 34 are huge support buys. This should easily see 50+
NYSE:AA Building a bull flag...
4 weeks of consolidation...
above good support
stop on daily close below 34
profit target is 40, which is a volume shelf
Reasons for bullish bias:
- Price gave LH plus strong resistance breakout
- Triangle pattern
- Bullish Gartley on weekly
Here are the recommended trading levels:
Entry Level(CMP): 31.53
Stop Loss Level: 24.52
Take Profit Level 1: 38.54
Take Profit Level 2: Open
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 27/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our...
Reviewing a longer term chart of Alcoa, it's hard to miss the cyclical nature of this stock. Regularly hitting cycle lows in March each two years. Stochastics still falling and a closer analysis indicates that there will be one more leg down. However, now is the time to put this one on your radar.
I have already taken a position but had sold January calls to...
The first impulse move off the low illustrates a possible 5 wave impulse structure. Assuming we are in wave 4, a fifth wave, most likely exceeding the high of wave 3 can push AA to 35-36 over the very short term. Watching to see if the closing low of three weeks ago holds. This has often been a trigger for my trades.
If you haven`t bought AA before the previous earnings:
Then analyzing the options chain and the chart patterns of AA Alcoa Corporation prior to the earnings report this week,
I would consider purchasing the 30usd strike price at the money Puts with
an expiration date of 2024-1-19,
for a premium of approximately $1.13.
If these options prove to be profitable...
Alcoa stock is showing signs of potentially breaking its long-term bearish trend, with a possibility of reaching a range between $55 to $60 per share by December 2024, provided that it maintains support around the $27 mark.
Analyzing the options chain and the chart patterns of AA Alcoa Corporation prior to the earnings report this week,
I would consider purchasing the 30usd strike price Calls with
an expiration date of 2024-3-15,
for a premium of approximately $2.47.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking...
Alcoa Corporation - 30d expiry - We look to Sell at 32.65 (stop at 35.05)
Daily signals are bearish.
There is no clear indication that the downward move is coming to an end.
Preferred trade is to sell into rallies.
Previous support at 32.50 now becomes resistance.
This stock has seen poor sales growth.
The sequence for trading is lower lows and highs.
Our...
Alcoa Corporation - 30d expiry - We look to Sell at 32.65 (stop at 35.05)
Daily signals are bearish.
There is no clear indication that the downward move is coming to an end.
Preferred trade is to sell into rallies.
Previous support at 32.50 now becomes resistance.
This stock has seen poor sales growth.
The sequence for trading is lower lows and highs.
Our...
Alcoa is such a mystery to me. On one hand, I want to add to an already heavily hedged long position but looking at the general downtrend and the recent consolidation here, I'm wondering if AA is destined for another leg down, that might bring prices to 25 or even 17. I keep thinking that whenever I want to add to my AA position, I should buy Nucor instead but...
Alcoa Corporation - 30d expiry - We look to Sell at 38.98 (stop at 40.98)
Daily signals are mildly bearish.
Previous support at 39 now becomes resistance.
This stock has seen poor sales growth.
There is no clear indication that the downward move is coming to an end.
Preferred trade is to sell into rallies.
Our profit targets will be 33.98 and 32.98...
