08 OCTOBER 2012avafin.com
Shares of Alcoa indicating bearish trend
Edited by : AL CIRCLE
1 min read
Shares of Alcoa crossed below the 50-day moving average indicating a likely bearish trend. Recent trading activity signals that the shares may continue to head lower in the foreseeable future as long as the stock price remains below the moving average line. AA shares slid 1.54%% percent to $8.43 on Tuesday with volume at 11.10M.
Based on the pivot points, the current support and resistance levels for AA are $8.31 and $8.61 respectively. However, moving averages should never be used alone. Moving averages should be used in conjunction with other indicators in order to properly confirm trends and price movement.
Alcoa has market cap of 8.98B and is part of the basic materials sector and aluminum industry. Historical performance shows that the stock has lost 10.52% within the last six month. The mean analyst rating for the stock is hold.
Alcoa Inc. is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its active and growing participation in all major aspects of the industry: technology, mining, refining etc.
Based on the pivot points, the current support and resistance levels for AA are $8.31 and $8.61 respectively. However, moving averages should never be used alone. Moving averages should be used in conjunction with other indicators in order to properly confirm trends and price movement.
Alcoa has market cap of 8.98B and is part of the basic materials sector and aluminum industry. Historical performance shows that the stock has lost 10.52% within the last six month. The mean analyst rating for the stock is hold.
Alcoa Inc. is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its active and growing participation in all major aspects of the industry: technology, mining, refining etc.
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