InTheMoneyStocks
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Alcoa Corp $AA Has Been Crushed, But This Level Looks Solid
Leading aluminum stock, Alcoa Corp (NYSE:AA), has been under severe selling pressure since April 2018. At that time, the stock traded as high as $62.35 a share. Since that high pivot, the stock has been selling off and now trades at $28.93 a share. The next major support level that looks solid for the stock will be around the $25.00 area. This is where the stock broke out in November 2016. Often, larger time-frame breakout levels will serve as solid support when retested. This should be an area where the institutional money defends the name.
Nicholas Santiago
InTheMoneyStocks
Leading aluminum stock, Alcoa Corp (NYSE:AA), has been under severe selling pressure since April 2018. At that time, the stock traded as high as $62.35 a share. Since that high pivot, the stock has been selling off and now trades at $28.93 a share. The next major support level that looks solid for the stock will be around the $25.00 area. This is where the stock broke out in November 2016. Often, larger time-frame breakout levels will serve as solid support when retested. This should be an area where the institutional money defends the name.
Nicholas Santiago
InTheMoneyStocks