I am patiently waiting for AA to sell off to that $18 price range. I like it bouncing off support and then going to 2x the price. There is also some great fundamental news on Aluminum which will work out in AA favor to increase margins.
Price is currently around the 2009 and 2016 lows (very important lows, especially considering the significance of those 2 dates).
It is now in the process of forming an ascending triangle (currently on what could be the 5th and last touch of the pattern boundary.
I will enter this trade if the breakout occurs. I am not interested in prepositioning myself because...
Strong support below, limited downside. Huge upside potential.
Bullish reversal on very high volume, pre earnings.
Analysts upgrade on Oct 10th
J.P. Morgan analyst Michael Gambardella maintained a Buy rating on Alcoa Corp (AA) today and set a price target of $26.00.
Company profile
Alcoa Corp. engages in the production of bauxite, alumina and aluminum products....
Hello my dear friends,
Alcoa Corporation is heading toward the support level @13.83. You can short and protect your position with the drawn trendline.
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Use this as an idea to develop your own setup:
Main items we can see on the Daily Chart:
a)Price is against a major Support zone
b)We can see how the Bearish Movement have been decelerating
c)This on context is a good signal for thinking on Reversal movements coming soon
d)On the weekly chart, we can see a huge bullish Divergence
e)Our idea is to wait for a...
@realDonaldTrump $X $AA Since the trade wars started the markets that were supposed to be benefited by this policies happened to have the complete opposite effect.
$AA had a loss of $7.6 B in market cap going from the 60's to the 20's level, 65% loss from the top to date. $X took a hit of $5.5 B in market cap, going from the 45's to the 15's levels and a 75%...
Trade wars are not good, trade wars are not easy to win. The market has shown us that it is always right, both $AA and $X wiped off billions in market cap since these trade wars started. The market is telling us loud and clear, Stop it!. Trying to manipulate the market creates artificial overextended conditions that sooner rather than later snap back. Let the...
It may have some bullish technicals but the fundamentals remain very risky, although the earnings beat estimates by a penny, revenue was $60 million short of estimates. The commentary from management on the earnings call was far from Bullish also, as they blamed trade tensions and macroeconomic headwinds for declines in demand, in turn cutting their demand...
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling. The Company's segments include Bauxite, Alumina, Aluminum, Cast Products, Energy and Rolled Products. The Company's Bauxite segment represents its global portfolio of bauxite mining assets. The Company's Alumina segment represents its refining system across the world, and processes bauxite into alumina and sells it directly to internal and external smelter customers across the world. The Company's Aluminum segment represents its smelter system across the world. Its Energy segment represents its portfolio of energy assets, with power production capacity of approximately 1,685 megawatts.
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AA
