ALCOA CORP (AA) Stock Technical Analysis
USA - NYSE:AA - US0138721065 - Common Stock
Taking everything into account, AA scores 7 out of 10 in our technical rating. Although AA is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
AA has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 33.25. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 31.36, a Stop Loss order could be placed below this zone.
More info and screens
23.27
When analyzing the support we can see 4 important areas.
- A support zone ranging from 30.94 to 31.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @29.90 from a trend line in the daily time frame.
- A support zone ranging from 28.40 to 28.49. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @23.51 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 33.25 to 33.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for AA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for AA is up. |
| ChartMill Relative Strength | 28.98 | NEGATIVE | AA has a low relative strength, it was outperformed by 71.02% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of AA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of AA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of AA is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 56.27 | NEUTRAL | The RSI value for AA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests AA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 59.01 | NEUTRAL | The Stochastics value for AA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.34 | MEDIUM VOLATILITY | The ATR as a percentage value for AA suggests some volalility. |
| Average Directional Index/ADX (14) | 12.14 | NEGATIVE | The low ADX value for AA suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 33.62 | 30.93 | 2.69 (8.00%) | 12.50% |
| An entry @33.62. This is a Buy Stop order right above the resistance zone. | An exit @30.93. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.69 points, which is 8.00%. | When investing 12.50% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
32.63
+0.17 (+0.52%)