Welcome, Guest
Username: Password: Remember me

TOPIC: Alcoa Inc Signals A 30% Move Coming!

Alcoa Inc Signals A 30% Move Coming! 3 years 5 months ago #11083

  • inthemoneystocks
  • inthemoneystocks's Avatar
  • Offline
  • Expert Boarder
  • Posts: 89
  • Thank you received: 5
  • Karma: 0
Alcoa Inc (NYSE:AA) has been chopping sideways over the last month. This is coming after a sharp two week fall. Technical analysis tells us that this chart pattern is a bear flag formation. Bear flags on the charts are price consolidation that occur before the resumption of the previous move.

Since the previous move was sharp downside, this indicates that further downside is on the horizon. The downside target on this trade would be $6.75, marking a fall of over 30% from current levels. Note the chart below...

Gareth Soloway
The administrator has disabled public write access.