- 3-4 month base build a flat channel pattern in the tight range 44-52 - first entry point occurred 12/16/2021 at 52 when AA broke out the pattern - we missed this entry point but we waited until its first consolidation 56-64 until early February - obviously, AA was ready to make its prime time rally on February 7-8 when getting out 64 so it was our entry point...
Background - Mar 20, 22 * 🐂 * Maybe at an oversold condition Current Condition * I don't see SOW 🚫 🐻 * Reactions on decreasing volume * Coming to reaction -> re-rest at 90 What am I looking for 🐂 - high vol absorption at 90 🐂 - low vol reaction to 71 support and buy spring 🐻 - Don't see anything in the immediate future Video Analysis cln.sh
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AA upside reclaim with strength in the sector due to windfalls in the industry. Growth in the company is expected as a result of aluminum price hikes. Alcoa is breaching the 20MA once again after bouncing off support on key 50MA & 69.98 support. Re-seen auction puts AA back on track of an upside movement towards a channel from October 2021. MACD cross observed on...
The March correction has ended today at the new high at 92.30. We may see a sideward range now or more likely another run down to close the window on March 1st .
Looking for throwback to support in coming weeks... chart extended and looking to play correction.
WENT UP a lot and getting closer to the resistance
AA: Price re-discovery to the upside as a result of directional conviction and buyer control. Cases to the upside supported by: sector strength with metals/precious metals hitting record highs on LME, sustained volume, and a maintain of overweight with a new PT to $78 via Morgan Stanley. With RSI >70, we may see some healthy retracement to consolidation. Base...
AA: 4Bar Play Intraday scalp/momentum live in play this morning with the sector in the lead this am.
Material stocks have come under pressure as the Federal Reserve gets hawkish. Alcoa has held up better than many peers, but for how long? Notice the candles with long upper tails or solid bodies as the aluminum company chopped above $60. Those indicate selling pressure around that price. Looking further back, notice how that level matches a high from April 2018....
It seems we reached the end of an impulse, and that means there a new road going South. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets going down are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere...
AA: Intraday continuation with the Energy Sector taking the lead for the day. AA fresh from monster earnings found support on the 200ma and has pierced the 20ma to recapture previously auctioned price shelves to the upside. AA is continuing an upwards channel it has oscillated in since July 2021. With a -5% weekly and -2% monthly move, the entry is prime price for...
AA looking good here underneath multi year resistance
Loving this monthly chart. For long, I would like to see it base around 50ish area to see higher. For short. Looking at the 5 - 15 min chart, I see descending triangle pattern forming. What're your thought? I'd like to hear it!
AA cleared the earnings hurdle today and maintained prices levels despite another market down day. 1. Strong daily and weekly trend. 2. 4 bar squeeze. 3. Visible price levels and sitting at volume profile levels. 4. Commodity cycle with inflation to help with tailwind. 5. XME is at the top of channel and AA is strong within the ETF. Entry: 59.50, 58.05 and...
Looking pretty strong here... Lots of options flow on this name as well. KEY break over 63 could send this a lot higher.
I got into meditation this morning and just got a flood of "A"s. I figured it must be Alcoa. I don't follow it much, but was surprised to see the recent move up. Unfortunately though, my dowsing and guidance is that this thing is ready to dump hard. I literally got the "waterfall" option for my dowsing, and that's never pretty. Unless you're short, of course!...