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Alcoa Corp (AA) Breaks Through Resistance at $41.85

Comtex SmarTrend(R) - Mon Sep 10, 9:08AM CDT

Alcoa Corp (NYSE:AA) has opened bullishly above the pivot of $40.97 today and has reached the first level of resistance at $41.85. Should the shares continue to rise, the resistance pivots of $42.69 and $44.41 will be of interest.

In the past 52 weeks, Alcoa Corp share prices have been bracketed by a low of $40.03 and a high of $62.35 and are now at $42.41, 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

Alcoa Corp has overhead space with shares priced $42.41, or 34.0% below the average consensus analyst price target of $64.23. The stock should run into initial resistance at its 50-day moving average (MA) of $44.14 and subsequent resistance at its 200-day MA of $47.76.

SmarTrend recommended that its subscribers protect gains by selling shares of Alcoa Corp on April 24th, 2018 by issuing a Downtrend alert when the shares were trading at $51.05. Since that call, shares of Alcoa Corp have fallen 19.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to SmarTrend at cs@mysmartrend.com

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