Whilst the broader equity market saw a day of moderate gains, it was just another lousy day for Alcoa (AA), settling -1.5% @ $11.76. The primary late summer/early autumn target of $10/9 is already well within range.
Little to add.
AA continues to see relentless downside... but should be able to level out somewhere in the 10/9s across the next few months.
*I will consider going long AA in the $9s.. this Sept/Oct. Right now, the 8/7s look unlikely, even if sp'1900s.