AA aluminum double bottomWhat does that say, if it is real? And I am just watching this for now. Its usually a leader.
185 trade ideas
Trade Wars are NOT good. Trade Wars are NOT easy to win.@realDonaldTrump $X $AA Since the trade wars started the markets that were supposed to be benefited by this policies happened to have the complete opposite effect.
$AA had a loss of $7.6 B in market cap going from the 60's to the 20's level, 65% loss from the top to date. $X took a hit of $5.5 B in market cap, going from the 45's to the 15's levels and a 75% loss from the top to date. This is something that the market didn't take well. The market is always right, and it already spoke. Donald Trump, this market has made its point loud and clear. This trade war is of no benefit and it only scared away the investors. We want to step it and open investing lines in this. Enough ! Correct the policy, do something so we can see a turnaround and we can go back to profit of the aluminum and steel markets.
You're welcome !
The Market is always right.Trade wars are not good, trade wars are not easy to win. The market has shown us that it is always right, both $AA and $X wiped off billions in market cap since these trade wars started. The market is telling us loud and clear, Stop it!. Trying to manipulate the market creates artificial overextended conditions that sooner rather than later snap back. Let the markets do what they have to do, focus on being productive and take a competitive advantage.
At this time the technical indicators show a pretty big positive momentum divergence in the weekly, which signals an important reversal to the upside. As long as “he” lets the market do what it has to do $AA has a good chance to stop the bleeding and look to pick up the increasing momentum and become bullish.
The market has proven wrong the trade wars, how much lower it has to go before this becomes a systemic problem that takes the economy into a recession? I can hope for the best, but just like $X my position is neutral leaned towards the bullish side.
$ALCOA CORP could reward the brave. Bullish indicators.It may have some bullish technicals but the fundamentals remain very risky, although the earnings beat estimates by a penny, revenue was $60 million short of estimates. The commentary from management on the earnings call was far from Bullish also, as they blamed trade tensions and macroeconomic headwinds for declines in demand, in turn cutting their demand forecast for the remainder of the year.
Although the chart has shown some bullish signs it must be remembered that the stock is in as serious downtrend that must be respected.
AVERAGE ANALYSTS PRICE TARGET $30
AVERAGE ANALYSTS RECOMMENDATION overweight
SHORT INTEREST 3.2%
COMPANY PROFILE
Alcoa Corp. engages in the production of bauxite, alumina and aluminum products. It operates through the following segments: Bauxite, Alumina, Aluminum, Cast Products, Energy and Rolled Products. The Bauxite segment portfolio represents its bauxite mining assets and it is mined and sold primarily to internal customers within the Alumina segment, who then process it into alumina. The Alumina segment represents its worldwide refining system, which processes bauxite into alumina, which is mainly sold directly to internal and external smelter customers worldwide. The Aluminum segment represents its worldwide smelter system, which receives alumina, mostly from the Alumina segment, and produces molten primary aluminum. The Cast Products segment represents its worldwide cast house system, which are made from molten aluminum, purchased primarily from its Aluminum segment, which is then formed into various value-added ingot products, including billet and slab, for use in fabrication operations in a variety of industries. The Energy segment represents portfolio of energy assets. The Rolled Products segment represents its rolling mill in Warrick, Indiana, which produces aluminum sheet primarily sold directly to customers in the packaging end market for the production of aluminum cans. Alcoa Corporation began operation as a separate company on November 1, 2016 and was formed by Alcoa Inc. (now named Arconic Inc.) via a distribution of shares (spinoff) to existing Alcoa Inc. stockholders. The company is headquartered in New York, NY.
AA Broke Past Major Support, Potential Further Drop!AA broke past a major support where we expect to see it fall further to its next support.
$AA ALCOA IS A SELL INTO EARNINGS.In last quarters earnings report we got a nice pop but that quickly reversed which is not a good sign. While other companies in this sector have risen AA has had terrible price action and we can see nothing other than a drop in price post earnings. Indicators are all quite negative which confirms our sell bias.
Monthly rejection candleso Short term Ichimoku is
a buy signal
o the fundamentals of the company is solid
o Potential of 18% gain
o Divergence and monthly rejection candles
I like AA, thinking of it for the long side...
Alcoa published positive financial reports on 17.1.19 above expectations with a 5% increase in revenues.
30.5 area is a resistance – weekly and daily charts. If it crosses this level I'll consider an entry for a long play. The first target will be 34.
increasing volume, OBV supports the proposed direction, RSI is still not in oversold area.
this is not a recommendation to buy or sell.
AA Approaching Support, Potential Bounce!AA approaching support at 27.70 (61.8% Fibonacci extension, 50% Fiboancci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 29.17.
Stochastic (55, 5, 3) is also approaching support where a corresponding bounce could occur.
AA Approaching Support, Potential Bounce!AA is approaching its support at 27.13 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance.
Stochastic is also approaching its support where a corresponding bounce could occur.
ALCOAAlcoa stock will drop by -1.4% during opening of the american session and on the financial performance of the company.
RSI is in neutral about 51.1 , Dropping on the -1.4% to $28.55 will be the bullish point. $30.23 will the resistance line.
Fundamental : Alcoa stocks dropped by 0.6 percent after hours Wednesday and is expected to drop by 1.48% during after-hours trading Thursday. Alcoa has brought adjusted earnings of 66 percent per share, with an adjusted EBITDA of USD749 million. The company expects the global demand for aluminum to be in 3 to 4 percent this year.
