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Look for Shares of Alcoa Corp to Potentially Pullback after Yesterday's 2.78% Rise

By Nick Russo

Alcoa Corp (NYSE:AA) traded in a range yesterday that spanned from a low of $54.40 to a high of $56.50. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $55.38 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Alcoa Corp share prices have moved between a 52-week high of $57.50 and a 52-week low of $21.78 and are now trading 159% above that low price at $56.39 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has remained constant.

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: rebounders alcoa corp

Ticker(s): AA