• Return to Headlines

Watch for Continued Losses in Shares of Alcoa Corp (AA)

By Shiri Gupta

Alcoa Corp (NYSE:AA) traded today at a new 52-week low of $18.13. This new low was reached on below average trading volume as 1.2 million shares traded hands, while the average 30-day volume is approximately 3.5 million shares.

Alcoa Corp has overhead space with shares priced $18.13, or 71.8% below the average consensus analyst price target of $64.23. The stock should find initial resistance at its 50-day moving average (MA) of $22.07 and further resistance at its 200-day MA of $27.13.

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

Over the past year, Alcoa Corphas traded in a range of $18.13 to $45.65 and are now at $18.13. The 200-day and 50-day moving averages have moved 0.99% lower and 0.67% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Alcoa Corp on March 8th, 2019 by issuing a Downtrend alert when the shares were trading at $26.84. Since that call, shares of Alcoa Corp have fallen 28.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows alcoa corp

Ticker(s): AA