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Alcoa (AA) Crosses Pivot Point Resistance at $30.72

By Shiri Gupta

Shares of Alcoa (NYSE:AA) opened today above their pivot of $30.14 and have already reached the first level of resistance at $30.72. Investors may be interested in a cross of the next upside pivot targets of $31.45 and $32.76.

In the past 52 weeks, shares of Alcoa have traded between a low of $6.14 and a high of $39.78 and are now at $30.64, which is 399% above that low price. The 200-day and 50-day moving averages have moved 0.01% higher and 1.55% higher over the past week, respectively.

There is potential upside of 25.5% for shares of Alcoa based on a current price of $30.64 and an average consensus analyst price target of $38.45. The stock should find initial support at its 50-day moving average (MA) of $9.84 and further support at its 200-day MA of $9.19.

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 8.8%. We continue to monitor AA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Alcoa

Ticker(s): AA