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Alcoa Corp (AA) Approaches New Downside Target of $21.14

By Nick Russo

Shares of Alcoa Corp (NYSE:AA) have bearishly opened below the pivot of $21.68 today and have reached the first support level of $21.48. Investors may be interested in a cross of the next downside pivot targets of $21.14 and $20.60.

In the past 52 weeks, shares of Alcoa Corp have traded between a low of $20.82 and a high of $50.59 and are now at $21.46, which is 3% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 2.2%.

Alcoa Corp has overhead space with shares priced $21.46, or 66.6% below the average consensus analyst price target of $64.23. The stock should find initial resistance at its 50-day moving average (MA) of $25.28 and further resistance at its 200-day MA of $31.02.

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 $26.83. Since that call, shares of Alcoa Corp have fallen 18.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts alcoa corp

Ticker(s): AA