Monday 9 February 2015

AA - a second major daily decline

Alcoa (AA) saw the second major consecutive daily decline, settling -5.6% @ $15.64. The 200dma looks set to be lost, with next key support at the Oct' low of $13.66.


AA, daily


Summary

Suffice to say, two strong down days, and the important $18 threshold is now looking a long way up.

It won't take much weakness in the broader market to help knock AA under the 200dma. It would seem the mid $13s are due within the very near term.