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ALCOA CORPORATION

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AA1 trade ideas

AA: Higher Highs and Lower LowsAA: 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 formation of its new value shelf in progress as AA resumes its path to the upper limits of a channel from May 2021 with distinct higher highs and lower lows // Key Levels: 70.02, 73.28, 77.16, 78.40// ATR: 3.77, Beta: 2.39, PT: $78
NYSE:AALong
by GroundNinja
Spotting Potential Long Breakouts – Stocks – Alcoa (AA) - DailyCAPITALCOM:AA Alcoa (AA) is at an all-time high of 62, which it last saw in April 2018. It plummeted after reaching that high and took until now to regain the loss. That’s almost a four-year gap. The question is now what will happen. Is it going to go up or down? We can deduce a few key chart patterns by looking at the daily chart. Marking out the long-term upward trend from March 2020, we can see that it has had its retracement at the price of 53, which can also be considered an area of support looking to the left. Not to mention if we grab our trusty Fibonacci Retracement, we can see that it also hits the 50% support level at this exact spot and pushes up. If we have to draw an Ascending Triangle from the three lowest valleys and connect them to the level of resistance at its current high price, we can see that price within this pattern has actually made a partial rise. We can see that there has been selling pressure on three specific days trying to keep the price from rising, and volume on those days has significantly increased. If we had to go down to the 1-Hour or 30-Minute time frame, we could see these levels of selling pressure actually create a Triple Top. However, to confirm this, we need to see price break below the lowest valley between these peaks, which has not happened yet. Price seems to be moving steadily upward. Additionally, we could say that a double bottom has formed at the levels of the upward trend line and that of the Ascending triangle at price 53 and 55). Also, take note of the strong buying pressure at price 53. Moreover, the second part of the Double Bottom (price 55) is making a series of higher lows. This could also indicate an upward momentum shift. However, just like the Triple Top, the price has not closed above the peak between these two valleys, so it is not confirmed yet, but it is inching closer and closer to that level. Another factor to consider (if we look back at the daily chart) is that price has moved to pass the HCR (horizontal consolidation area) - the orange rectangle. This means if price moves lower, it will probably stall here, but moving upward, it is free to run. If you are looking to go long here, I suggest waiting for the close at least above the level of resistance at 64.35. However, the resistance level is more likely at 65 (a SAR round number). I would enter the trade long only if price closed above 65. The possibility of it going down as it did from its last high is also a possibility, but the repeated pushing of the price action heading up and up trying to smash through resistance along with increasing volume over time would suggest that it might break upward and in a big way. I’d be considerate and place my profit at about 70. This would net you about an 4% return (4 to 1) if you place your stop just below the resistance that will undoubtedly turn into massive support at the price area of 62 – 64.
CAPITALCOM:AALong
by DevlonJarrodHorne
How Long Can Alcoa Stand Alone?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’s also the low from 2006 and January 2008 – immediately before the subprime crash. That could make the price zone especially important. Next, you have bearish divergence because MACD started falling as AA tested the highs. Third, the weekly chart shows two consecutive candles with lower highs and lower lows. There’s also a price channel with its bottom currently around $48: TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:AA
by TradeStation
Alcoa hitting lower lows. AAIt 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 fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
NYSE:AAShort
by Rykin_Capital
Look Out Below AA -24%?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! Obviously, I could be completely wrong and have the wrong direction! But, the energy is negative enough that I hope to warn anyone long in this name that the suggestion is it drops 24% from the recent high. That would take it back to around $46.00. I'm gonna short it!
NYSE:AAShort
by JenRz
Short-long)The stock is at the support level. Locally, it could rise to 53. Upside +10% ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Stock trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast.
NYSE:AALong
by QuantumLabSignals