Thursday, 9 July 2015

AA - post earnings gains

Alcoa (AA) climbed after Q2 earnings, settling +0.95% @ $10.60, but well below the earlier high of $10.97. Broader trend remains bearish, with viable downside into the $9s, not least if sp' loses the giant 2K threshold in the late summer.




Little to add.

Daily candle was a black-fail.. indicative of some selling in the morning - as was also seen in the broader market.

Broadly, regardless of any near term upside into the $11/12s, AA looks set for at least a brief foray into the $9s by Sept/Oct.