20 SEPTEMBER 2011FNN Online
Alcoa Bearish Moving Average Crossover Alert (AA)
Edited by : AL CIRCLE
1 min read
Shares of Alcoa (NYSE:AA) have crossed bearishly below their 10-day moving average of $11.80 on a volume of 8.5 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Alcoa have traded between a low of $10.99 and a high of $18.47 and are now at $11.51, which is 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.3% while the 200-day MA has slid 0.2%.
Alcoa has overhead space with shares priced $11.57, or 29.7% below the average consensus analyst price target of $16.45. Alcoa shares should first meet resistance at the 50-day moving average (MA) of $13.27 and find additional resistance at the 200-day MA of $15.52.
In the past 52 weeks, shares of Alcoa have traded between a low of $10.99 and a high of $18.47 and are now at $11.51, which is 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.3% while the 200-day MA has slid 0.2%.
Alcoa has overhead space with shares priced $11.57, or 29.7% below the average consensus analyst price target of $16.45. Alcoa shares should first meet resistance at the 50-day moving average (MA) of $13.27 and find additional resistance at the 200-day MA of $15.52.
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