AA, CENX - big trouble in Aluminium

With Century Aluminium (CENX) failing to meet market expectations, the stock was slammed lower at the open. CENX and Alcoa (AA) both settled significantly lower, by -4.7% and -12.9% respectively. Near term outlook is bearish, and with both losing the 200dma, the broader outlook has also turned bearish.


AA, daily

CENX, daily

Summary

Suffice to say, CENX has really spooked the market, and its taken AA down with it.

With both losing the 200dma, outlook into the spring is starting to look pretty lousy.

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Consider the giant monthly cycle for AA

$18 has been a key threshold to break, but with today's move into the $14s, AA is looking in serious trouble.

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Most bearish outlook for summer...

AA: $12/10 zone
CENX: $10

Of the two... I'd favour AA, but right now... neither look remotely attractive... not least after today's declines.