ALCOA CORP (AA) Stock Technical Analysis
NYSE:AA - New York Stock Exchange, Inc. - US0138721065 - Common Stock - Currency: USD
Taking everything into account, AA scores 4 out of 10 in our technical rating. AA has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
AA has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 29.61, a Stop Loss order could be placed below this zone.
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23.27
When analyzing the support we can see 3 important areas.
- A support zone ranging from 29.27 to 29.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @26.60 from a horizontal line in the daily time frame.
- Support @23.51 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 30.59 to 32.10. This zone is formed by a combination of multiple trend lines and important moving averages 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 | NEUTRAL | NEUTRAL | The long term trend for AA is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for AA is neutral. |
| ChartMill Relative Strength | 63.53 | NEUTRAL | AA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of AA is below a declining 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 | NEGATIVE | The current price of AA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 49.86 | NEUTRAL | The RSI value for AA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.1 | NEGATIVE | The MACD value suggests AA has a negative trend. |
| Stochastics (14,3) | 54.49 | NEUTRAL | The Stochastics value for AA is a neutral value. |
| Average True Range in percent/ATR (20) | 4 | MEDIUM VOLATILITY | The ATR as a percentage value for AA suggests some volalility. |
| Average Directional Index/ADX (14) | 15.64 | NEGATIVE | The low ADX value for AA suggests a weak or negative trend. |
30.12
-0.32 (-1.05%)