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Bearish Moving Average Cross by Alcoa (AA)

By James Quinn

Alcoa (NYSE:AA) shares have crossed bearishly below their 10-day moving average of $32.69 on a volume of 1.5 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Alcoa share prices have been bracketed by a low of $6.14 and a high of $39.78 and are now at $31.96, 421% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Alcoa on November 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.57. Since that recommendation, shares of Alcoa have risen 19.7%. We continue to monitor AA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Alcoa

Ticker(s): AA