AA trade ideas
AA6.24.20 AA...showing follow up to a hypothetical that I thought would be a bad trade. IT IS IMPORTANT TO KNOW WHAT A TRADE LOOKS LIKE BEFORE YOU ENTER THE TRADE.
AA Round up (Channeling)AA has all its moving averages converging, setting it up for a rounding pattern upward to the $9 level. It has been channeling making high lows and is now sitting at the bottom of the channel. Looking for it to make a move to the top of the channel where it'll find resistance
Alcoa Corporation (AA - US) - Impulse sequence Alcoa Corporation (AA - US) is in impulse wave sequence. It is very weak stock compared to SPX. 4th wave was very complex and like a bear flag. 5th wave is already started down and moving towards new low when it finished.
Alcoa Corp (AA - US) - Sell for 5th wave downAlcoa Corp (AA - US) is going down for 5th wave down. It’s already broken down to 4th wave triangle. So next move will be very fast down. Sell with stops above 8.09 level as prices rise little on Monday as Spx is expected to go up slightly before going down further.
AA: $8 Short Sell-off Target + Long PotentialFirst off, please don't take anything I say seriously or as financial advice. As always, this is on opinion basis. That being said, let me get into a few of my insights. Right now given the time period we are in, AA went down in the demand curve as a precious metals provider for aluminum mining. I expect an $8 target is imminent during this bearish period, and one price corrections happen, it can have long term hold potential.
"Alcoa: on a Micro Ascending Channel" by ThinkingAntsOk4H Chart Explanation:
- Price is on a Down Trend on a Weekly Basis.
- Price is on the top of the Micro Ascending Channel.
- Now, price can break it up or down. If it breaks it up, it has potential to move towards the Descending Trendline. If it breaks it down, it will move down towards the Support Zone.
Weekly Vision:
Daily Vision:
Updates coming soon!
"Alcoa: short term bull path coming" by ThinkingAntsOkDaily Chart Explanation:
- On a Weekly Basis, it is on a down trend.
- However, price bounced on the Support Zone.
- Now, it has potential to move up towards the Resistance Zone.
Updates coming soon!
"Alcoa: one more down move coming" by ThinkingAntsOkDaily Chart Explanation:
- Price is on a Descending Trend.
- It si close to an important Support Zone.
- We expect price to get to there before looking for buy setups.
Weekly Vision:
4H Chart Vision:
Alcoa maybe interesting for 10 year long term playAlcoa this morning was trading at a price to book of .2. It has broken the immediate downtrend resistance. This morning it was at support from 1975 and held. It is the most oversold it has ever been in its history. Might be interesting to begin scaling a position as the market goes dow
"Alcoa: last two Supports standing" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Ascending Trendline and started the down move.
- Now, its on the Support Zone.
- If it breaks it, it will go down to the All Time Lows.
Weekly Vision:
Daily Vision:
Updates coming soon!
"Alcoa: towards the $6 Zone" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Ascending Trendline and started a huge down move.
- Price broke the Support Zone (Resistance Zone now).
- We are expecting a correction that allow us set a trade towards the next Support Zone.
Weekly Vision:
Daily Vision:
Updates coming soon!
Alcoa below $2BCan't really make a trade here, but thinking about the relative value of other businesses, Alcoa getting below $2B valuation with $128M in FCF is a weird place to be. Other industrials could quickly nab them to maintain supply chains and consolidate the group.
[ALCOA] Potential pullback or reversal....From a technical point of view, ALCOA has reached a very important support area and if it manages to keep it, a technical rebound or a reversal trend is possible.
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"Alcoa: bouncing from here" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Descending Trendline on a Weekly Basis.
- Price bounced on the Support Zone .
- If price breaks the next Resistance Zone, it has potential to move up.
Weekly Vision:
Daily Vision:
Alcoa Corp Reversal trade
price levels to watch
$17.27
$19.80
$21.89
Major support below from 2016
Selling overdone
AA - Aluminum reboundThat is great Risk reward for going Long.
Economy is fine but Aluminum is in hand of chinese.
So in long rung this can hit Chapter 11 but for now 16-20 Is in cards.
