AA trade ideas
$AA - shortAA has resistance in the $16-18 area. For candlesticks reader, there is a bearish hanging man formed. This is in a monthly chart - even more powerful.
Rising Wedge setupBearish setup in $AA as the stock struggles with resistance zone and the 78.6 Fib reversal level.
A potential rising wedge formed in the daily chart. Wedge breakdown could lead to a continuation move lower towards 15.6 (initial target level)
Follow up Post( Target achieved)Over 2 months ago, we posted a possible trend reversal and it indeed was, and target for that trade was achieved. Many asked for update if Friday's strong runaway gap up is a continuation of previous upside trend or was it a technical bounce. Hard to tell, but price action and volume was not two things to ignore. Here is what we had to say that post (Hard to detect early if trend specially strong one like AA is about to reverse, but our system signals that is the case for the stock. If you are long this stock, you may start the preparation to book profit before its too late. As u may see this weekly chart, there are some similarities of previous strong trend reversal and this one. If price moves below $16 next week, we will initiate a long term short position of 9-10 weeks. Target price: $14.40 area. Details see the chart.) if you want to a real time trade alerts try us (www.2waytrading.com)
AA Anonymous - Time to QuitAlcoa has become extended and been a great trade that I took part in from 2013, but I don't thin there is much upside left. Given the Fibonacci extensions and inability to break the 50dma after-hours given 3Q earnings I think we are simply seeing a re-test of a broken trend line and setting up for a move lower. I would not be surprised to see a "sell the news" scenario play out in the coming days.
Short AlcoaMetals & Mining have been underperforming the S&P since August as commodity markets sold off.
Alcoa has now entered a downtrend after reaching a double top at 2011 highs near 17 a share.
The Bearish divergence between price and MACD also suggests more downside in the new confirmed downtrend.
Initial target: 38.2% Fibo retracement at $14 a share
Alcoa's Stock May Soon See Trend Reversal Hard to detect early if trend specially strong one like AA is about to reverse, but our system signals that is the case for the stock. If you are long this stock, you may start the preparation to book profit before its too late. As u may see this weekly chart, there are some similarities of previous strong trend reversal and this one. If price moves below $16 next week, we will initiate a long term short position of 9-10 weeks. Target price: $14.40 area. Details see the chart.
Alcoa to kick off earnings Elliott wave forecastU.S. futures decline, Alcoa to kick off earnings; Dow Jones down 0.12%
ABC retracement elliott wave count pattern forecast + Gann+ Fibo
Bearish divergence
$12.5 target nov 2014
Alcoa Earning WorriesAlcoa has had a terrific 2014 but could this run be coming to an end, at least temporarily? With earnings in less than a couple of weeks away, price is making a new 52 week high right into resistance on declining volume. Looking at the MACD, we have clear divergence with a crossover looking imminent. Plenty to be cautious about here.
Alcoa close to resistance zoneAlcoa is still doing well and the continues its trend since October 2013 and gains 80% up to now.
It is moving along a channel which is a little bite like an ascending wedge.
There is more rooms to hikes , but ones has to be careful and tight the SL
On the other hand the volume is not significant .
A doji right at the resistance trend line is another sign to be cautious.
Major resistance line @ 14.67 which is back to 2011.
An Alcoa Top: The Charts Say So Alcoa Inc (NYSE:AA) is the best performing Dow Jones Industrial Average stock of 2014. It has been a monster, hitting a new 52 week high today of $13.18. While this seems great, it may have put in a top today. After surging early in the day, the stock has reversed and gone negative. There is a possible topping tail on the daily chart and it is up 50% in the last six months. This has the makings of a top written all over it. A pull back to $11.00 is likely should the markets begin to sell in the coming weeks.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
Alcoa looking to break higher.Alcoa continues to look strong. It just completed an IHS as it looks to move higher. A break
to confirm appears imminent. I have a target near 13.30 with a stop of 11.70. Next is
an RSI study where below the red line is buy zone and above yellow line is sell zone roughly.
AA , Ready for Breakout ?the recent signs of strenght in AA , could yield into some long setups , i drew in two scenarios to participate
in a potential long setup
AA short-term downI don't really like the risk/reward ratio. However, the SL level is based on the certificate I'd like to trade (WKN: CK4E6R), but it's probably a good idea to take losses once AA breaks above $11.00.
AAMA 50 crosses above MA200- good thing, earnings are promising and blah, blah.
thebottomline.as.ucsb.edu
Alcoa: Showing strong signs of recoveryPrice has broken-out of a a bullish falling wedge pattern on heavy volume, first target was at 9.93 resistance level, and a break above this resistance may extend the upside to 10.90 next resistance level. Overall, I have a bullish bias for the stock.
Is Alcoa fully cooked?After five long years in the frying pan, is Alcoa finally ready to be served up? As the sun sets on 2013 , 2014 is looking to be a breakout year.
