AA breakout and gap on unspectacular volume. source: stockcharts.com
ALCOA shares are very likely to target the 7-month old downtrend line (now at $10). Will try a speculative long with a stop @ $8.90. AA Chart: Stockcharts.com
ALCOA shares don’t look good, but the $10 psychological level could bring some buyers into the market. Long-term bearish picture with aluminum prices at one year lows. AA (5 years) Chart courtesy of http://www.StockCharts.com Please read the Disclaimer!
Would sell the ALCOA rallies up to the blue levels short. AA (2.5 years) Chart courtesy of http://www.StockCharts.com Please read the Disclaimer!