Alcoa Corporation (NYSE: AA) STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 38.5 – 39.5 |
| Target | 42.5 – 43 |
| StopLoss* | below 37 |
| Duration | 12-14 Trading Days |
| Potential Returns | 8 – 9% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 38.5 – 39.5 | 42.5 – 43 | below 37 | 12-14 Trading Days | 8 – 9% |
* Once the first target hit, reset the StopLoss at your buying price.
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Alcoa Corporation (NYSE: AA) STOCK OVERVIEW
Alcoa Corporation, originally founded in 1888 as the Pittsburgh Reduction Company, is a leading producer of aluminum, as well as bauxite, alumina, and energy. The company’s name “Alcoa” is derived from the abbreviation of “Aluminum Company of America.” Alcoa has a significant presence in the global aluminum industry, with operations spanning from mining bauxite to manufacturing finished aluminum products. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in October 2016.
| Stock Data | |
| NYSE Symbol | AA |
| Sectoral Index | Aluminium Industries |
| 52 Weeks High | 38.2 |
| 52 Weeks Low | 23.07 |
Alcoa Corporation (NYSE: AA) - RELATIVE STRENGTH
Relative Performance - Last 1 Year
Alcoa Corporation — NYSE —
Alcoa Corporation (NYSE: AA) - DAILY TECHNICAL ANALYSIS
- After a huge downfall, price finally found its support at near 23 level.
- Price moved upside from that level but again took a rejection from 35 level and came down straight at 25 level.
- Again with a upside move, price reached to the previous resistance level and this time managed to break out.
- During this period, a Double Bottom pattern has been formed.
- After the breakout, price consolidated above the breakout level, which is a very positive indication.
- Recently with a fresh breakout, price again moving upside.
Alcoa Corporation (NYSE: AA) - RSI
- Current RSI of this stock is 67.66, which indicates the strength of buyers.
Alcoa Corporation (NYSE: AA) - MACD
- MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.
Alcoa Corporation (NYSE: AA) - EMA Cross
- The short length exponential moving average (10 EMA) has crossed the long length moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.
CONCLUSION - Alcoa Corporation (NYSE: AA) STOCK PRICE FORECAST
Based on our short term stock trading advisory in USA, Alcoa Corporation stock price target will be USD 42.5 – USD 43 in the next 12-14 trading sessions.
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