Tuesday 10 April 2012

AA - Update

Alcoa had a very reasonable day, considering the main market.

AA, daily, near term


The $9.50 level seems to bringing in the buyers. The current formation is a clear bull flag, certainly not the best flag - being so close to the previous low, but..still, AA does not make for a great short into earnings play.

Near term upside would be $10..maybe 10.25, especially if main market can stabilise, at least no lower than sp'1365/70


*earnings are actually at the close Tuesday - not Monday (as I had stated at the weekend, I guess I should not rely entirely on yahoo! finance so much).