Alcoa (AA) Approaches New Downside Target of $8.30
Shares of Alcoa (NYSE:AA) opened today below their pivot of $8.40 and have already reached the first level of support at $8.36. Investors may be interested in a cross of the next downside pivot targets of $8.30 and $8.20.
In the past 52 weeks, shares of Alcoa have traded between a low of $7.97 and a high of $10.92 and are now at $8.41, which is 6% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.9%.
There is potential upside of 24.5% for shares of Alcoa based on a current price of $8.41 and an average consensus analyst price target of $10.47. The stock should run into initial resistance at its 50-day moving average (MA) of $8.75 and subsequent resistance at its 200-day MA of $9.07.
SmarTrend is tracking the current trend status for Alcoa and will alert subscribers who have AA in their portfolio or watchlist when shares have changed trend direction.
Keywords: pivot alerts Alcoa