Sunday, 18 March 2012

AA: Starting at the beginning we go again. This spin-off, from my primary blog, and I'll start with a very brief post on none other than AA- Alcoa.

AA: daily, near term

A good floor, trending upward, first target will be $11, and then 11.40/60. A break below 9.50 would open up 8.50...and 8.50..would open up a challenge of the recent historic low of $5.

AA, weekly, - something of a mess

The next primary resistance level is 17.50....the 30s and 40s look a long ways away!
*If the main market does get stuck around sp'1430/50 this Spring, then mid 11s look a pretty fair target. The contrary bullish outlook- if good earnings in early April, and market breaks above 1450...then Alcoa to challenge the old resistance of 17/18. There is certainly a massive air pocket from the massive 2008 decline into the high 20s.