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Alcoa Corp (AA) Approaches New Upside Target of $55.98

By Nick Russo

Shares of Alcoa Corp (NYSE:AA) opened today above their pivot of $54.87 and have already reached the first level of resistance at $55.47. Investors may be interested in a cross of the next upside pivot targets of $55.98 and $57.09.

Potential upside of 7.5% exists for Alcoa Corp, based on a current level of $54.74 and analysts' average consensus price target of $58.85. The stock should discover initial support at its 50-day moving average (MA) of $9.84 and subsequent support at its 200-day MA of $9.19.

In the past 52 weeks, Alcoa Corp share prices have been bracketed by a low of $21.78 and a high of $57.50 and are now at $54.74, 151% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Alcoa Corp on March 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.14. Since that recommendation, shares of Alcoa Corp have risen 11.8%. We continue to monitor AA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts alcoa corp

Ticker(s): AA