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Alcoa Corp (AA) Breaks Through Support at $37.40

By Nick Russo

Alcoa Corp (NYSE:AA) has opened bearishly below the pivot of $38.09 today and has reached the first level of support at $37.40. Should the shares continue to fall, the support pivots of $37.03 and $35.96 will be of interest.

Over the past year, Alcoa Corp has traded in a range of $21.78 to $40.36 and is now at $37.41, 72% above that low. The 200-day and 50-day moving averages have moved 0.01% higher and 1.55% higher over the past week, respectively.

Potential upside of 14.5% exists for Alcoa Corp, based on a current level of $37.41 and analysts' average consensus price target of $42.82. 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 Corp 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 Corp have risen 37.0%. 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