Chart of the Day: Alcoa (AA)

NYSE: AA | Alcoa Corporation  News, Ratings, and Charts

AA – Alcoa (AA) is hovering under resistance.

A resistance level has formed in the chart of the world’s largest bauxite miner and alumina refiner by production volume, Alcoa (AA).

Alcoa reported earnings last week and beat EPS and revenue estimates. As a result the stock has been trading higher.  

Take a look at the 1-year chart of Alcoa (AA) below with added notations:

Chart of AA provided by TradingView

During the past two months, AA has formed a key level of resistance at $14 (red). The stock has tested that $14 level twice since the beginning of June.

A solid close above that $14 level should lead to higher prices for AA.  Therefore a long trade could be entered on a breakthrough of that level.  

Keep an eye on commodity prices as AA’s profits are closely tied to prevailing commodity prices along the aluminum supply chain.

Have a good trading day!

Good luck!

Christian Tharp, CMT

@cmtstockcoach

Want More Great Investing Ideas?

5 WINNING Stock Charts  

9 “BUY THE DIP” Growth Stocks for 2020

Newly REVISED 2020 Stock Market Outlook

7 “Safe-Haven” Dividend Stocks for Turbulent Times


AA shares were trading at $13.28 per share on Wednesday morning, up $0.12 (+0.91%). Year-to-date, AA has declined -38.26%, versus a 2.27% rise in the benchmark S&P 500 index during the same period.


About the Author: Christian Tharp, CMT


Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
AAGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


:  |  News, Ratings, and Charts

A Case of Stock Market Whiplash

Just when the stock market (SPY) was inches away from a record high at 4,000 it got saddled with 6 days of downward pressure. Why did this happen? Is the pain over? What happens next? Read on below for answers …

:  |  News, Ratings, and Charts

Mimecast Secures Stock of the Week Honors

Almost every single stock in the cyber security group is obscenely overpriced. That’s because it is riding one of the hottest growth trends around. However, if you dig deep enough you will find a growing firm in the group that is also a surprisingly good value. That is why MIME is our Stock of the Week.

:  |  News, Ratings, and Charts

Stay Away From These 3 Overvalued EV Stocks

The bullish EV industry outlook has helped many start-ups, without resources or products to trade at sky-high valuations. However, they do not have any substantial technological backing or production capacity to compete with the well-established players. Arcimoto (FUV), Electrameccanica Vehicles (SOLO), and XL Fleet (XL) are three such stocks that are currently trading at extremely high valuations and may witness a significant pullback in the near term.

:  |  News, Ratings, and Charts

4 Healthcare Stocks to Buy and Hold for the Long Term

The healthcare sector in the United States is on the cusp of major growth. Factors such as positivity around the COVID-19 vaccine, an ageing U.S. population, and optimism over developments in the treatment of fatal diseases in general are brightening the prospects for healthcare stocks. Novartis AG (NVS), Abbott Laboratories (ABT), Merck & Company, Inc (MRK), and Eli Lilly and Company (LLY) are cases in point. They are top players in the healthcare space that investors could buy now and hold for the long term.

:  |  News, Ratings, and Charts

Stay Away From These 3 Overvalued EV Stocks

The bullish EV industry outlook has helped many start-ups, without resources or products to trade at sky-high valuations. However, they do not have any substantial technological backing or production capacity to compete with the well-established players. Arcimoto (FUV), Electrameccanica Vehicles (SOLO), and XL Fleet (XL) are three such stocks that are currently trading at extremely high valuations and may witness a significant pullback in the near term.

Read More Stories

More Alcoa Corporation (AA) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All AA News