Alcoa (AA) Approaches New Downside Target of $8.81
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