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Alcoa (AA) Approaches New Downside Target of $8.81

Written on Mon, 02/04/2013 - 1:55pm
By Nick Russo

Shares of Alcoa (NYSE:AA) have bearishly opened below the pivot of $8.95 today and have reached the first support level of $8.91. Investors may be interested in a cross of the next downside pivot targets of $8.81 and $8.67.

Alcoa has overhead space with shares priced $8.87, or 14.3% below the average consensus analyst price target of $10.35. The stock should discover initial support at its 200-day moving average (MA) of $8.78 and subsequent support at its 50-day MA of $8.74.

Alcoa share prices have moved between a 52-week high of $10.92 and a 52-week low of $7.97 and are now trading 11% above that low price at $8.87 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.8%.

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

Ticker(s): AA

Contact Nick Russo



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