AA 1D support line ranges back to late 2016, showing VERY strong trendline. Should be a good buy around this area and possibly ride it up to resistance in 2-4 months.
Massive gap to cover, but too rowdy out there so the target could be quietly good to buy at 43-42. I would be buying at that level if I see an opportunity.
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This pattern seems to be a high probability trade. There is a very visible support uptrend line where the price bounces off and hit the high for the past 12 months.
Stop loss at around 37 , and target profit above $60.
alcoa next move could be down, if i look at this chart i would say its a high change that we will make some profit on a short. the only reason that makes me doubt is that alcoa (AA) just publiced some good Q earnings so lets see what happens!
You already know I'm out of this asset and this analysis is made just for a request. Keeping lines from the last idea on AA (by the way target reached), price into a range and risky if you want to trade in the very short term and don't have a clear strategy.
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If you are one of the investors who are keen on AA you should take a look at this chart.
Have a Good Trading Week,
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Follow the comments on the chart! If the price goes up to the size of the stop loss point, put the stop loss on the entry point, Stop loss means that the closed price must be below the Stop line, the shadows are not acceptable NYSE:AA SP:SPX
