Monday 9 March 2015

AA - the October floor fails to hold

Whilst the main market saw moderate gains, there was very significant weakness in Alcoa (AA), settling -5.4% @ $13.70. Near term outlook is especially bearish, with the key Oct' low of $13.66 now having been taken out. Broader downside to $10/9 by late summer.


AA, daily



AA, monthly


Summary

Alcoa is now a completely broken stock... seemingly headed for the $10/9 zone into the summer... regardless of however strong the broader market might be.