In last quarters earnings report we got a nice pop but that quickly reversed which is not a good sign. While other companies in this sector have risen AA has had terrible price action and we can see nothing other than a drop in price post earnings. Indicators are all quite negative which confirms our sell bias.
Alcoa published positive financial reports on 17.1.19 above expectations with a 5% increase in revenues.
30.5 area is a resistance – weekly and daily charts. If it crosses this level I'll consider an entry for a long play. The first target will be 34.
increasing volume, OBV supports the proposed direction, RSI is still not in oversold area.
this is not a...
AA approaching support at 27.70 (61.8% Fibonacci extension, 50% Fiboancci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 29.17.
Stochastic (55, 5, 3) is also approaching support where a corresponding bounce could occur.
AA is approaching its support at 27.13 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance.
Stochastic is also approaching its support where a corresponding bounce could occur.
Alcoa stock will drop by -1.4% during opening of the american session and on the financial performance of the company.
RSI is in neutral about 51.1 , Dropping on the -1.4% to $28.55 will be the bullish point. $30.23 will the resistance line.
Fundamental : Alcoa stocks dropped by 0.6 percent after hours Wednesday and is expected to drop by 1.48% during...