NYSE trade advice (A): US aluminium industries stock | 8-9% gain | USA stock trading idea on 14 May 2024

Stock Market
NYSE, United States of America

Target hit. Trade closed.

14 May 2024
20 May 2024
21 May 2024
5 days
Loss per
100,000 USD
Stop-loss
37
Buy Advice
14 May 2024
38.5 – 39.5
Target 1
20 May 2024
42.5
Target 2
21 May 2024
43
Profit per
100,000 USD
5 days
10,059
37
38.5 – 39.5
42.5
43
10,059
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Alcoa Corporation
  • 38.5 – 39.5
  • 42.5 – 43
  • Below 37
  • 8 – 9%
  • 12 - 14 Days
  • Buy Alcoa Corporation
  • Buy
    Range
    38.5 – 39.5
  • Target 42.5 – 43
  • Stoploss Below 37
  • Upside
    Potential
    8 – 9%
  • Trade
    Duration
    12 - 14 Days
  • * Once the first target hit, reset the StopLoss at your buying price.
    * Trade durations are approximate; actual holding period may vary.

    Alcoa Corporation (NYSE: AA) - Stock Overview

  • NYSE code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • AA
  • Alcoa Corporation
  • Aluminium Industries
  • 38.2
  • 23.07
  • NYSE code AA
  • Stock Name Alcoa Corporation
  • Sector Aluminium Industries
  • 52 Weeks High 38.2
  • 52 Weeks Low 23.07
  • Company profile

    Alcoa Corporation, originally founded in 1888 as the Pittsburgh Reduction Company, is a leading producer of aluminum, as well as bauxite, alumina, and energy. The company’s name “Alcoa” is derived from the abbreviation of “Aluminum Company of America.” Alcoa has a significant presence in the global aluminum industry, with operations spanning from mining bauxite to manufacturing finished aluminum products. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in October 2016.

  • Alcoa Corporation (NYSE: AA) vs NYSE - Relative Strength Comparison

    The image showcases Alcoa Corporation's 1-year performance relative to NYSE.
    Relative Performance - Last 1 Year
    AA —   NYSE —

  • Alcoa Corporation (NYSE: AA) - Technical Analysis (Daily)

    Alcoa Corporation - Technical Analysis chart on Daily Price and Volume
    Alcoa Corporation - Technical Analysis chart on Daily Price and Volume

    • After a huge downfall, price finally found its support at near 23 level.
    • Price moved upside from that level but again took a rejection from 35 level and came down straight at 25 level.
    • Again with a upside move, price reached to the previous resistance level and this time managed to break out.
    • During this period, a Double Bottom pattern has been formed.
    • After the breakout, price consolidated above the breakout level, which is a very positive indication.
    • Recently with a fresh breakout, price again moving upside.
  • Alcoa Corporation (NYSE: AA) - RSI Indicator

    Alcoa Corporation stock analysis based on RSI Indicator
    Alcoa Corporation - RSI Indicator

    • Current RSI of this stock is 67.66, which indicates the strength of buyers.

  • Alcoa Corporation (NYSE: AA) - MACD Indicator

    Alcoa Corporation stock analysis based on MACD Indicator
    Alcoa Corporation - MACD Indicator

    • MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

  • Alcoa Corporation (NYSE: AA) - EMA Crossover

    Alcoa Corporation stock analysis based on EMA Crossover
    Alcoa Corporation - EMA Crossover

    • The short length exponential moving average (10 EMA) has crossed the long length moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

  • Conclusion - Alcoa Corporation (NYSE: AA) Stock Price Forcast

    Based on our short term US stock trading recommendations, Alcoa Corporation stock price target will be USD 42.5 - USD 43 in the next 12-14 trading sessions.

  • Share with
    0 0 votes
    Article Rating
    Subscribe
    Notify of
    guest
    0 Comments
    Inline Feedbacks
    View all comments

    Join Our Telegram Channel for US Stock Market Update

    USA Stock Analysis

    The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe.
    Maximize your return with our precise trading advice on the USA stock exchange! We recommend an technology stock poised for
    Get expert short-term trading advice for the USA stock exchange. This energy stock is projected to deliver 5%-6% returns in
    Short Term Trading Alert: This Consumer Discretionary stock has the upside potential of 5-6% in 14-15 trading days. Swing Trading
    Short Term Trading Advice: Qualcomm Inc (NASDAQ - QCOM) has the upside potential of 5-6% in 14-15 trading days

    Join Our Telegram Channel for Saudi Stock Market Update

    Saudi Stock Analysis

    Maximize your return with our precise trading advice on Saudi stock exchange Tadawul! We recommend buying Arabian Pipes (Tadawul 2200)
    Short Term Trading Alert: This Saudi health care equipment stock has the upside potential of 8-10% in 12-14 trading days.
    Get expert short-term trading advice for the Saudi stock exchange Tadawul. Buy Etihad Atheeb Telecom (Tadawul 7040) for 13%-16% returns
    Short term trading advice for Shariah compliant Tadawul stocks. Buy Riyadh Cables Group (Tadawul 4142) with potential for 15-17% returns
    Maximize your trading returns in Saudi stock exchange Tadawul! Discover a shariah halal materials sector stock having 7-9% gains in
    Details of Arijit Banerjee

    Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.

    Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.

    Through Naranj Capital, Arijit shares his market insights and research analysis, offering actionable advice for investors. His work is featured on platforms like TradingView, where he publishes detailed analysis and recommendations.

    If you’re interested in learning more about Arijit’s work or Naranj Capital’s services, you can reach out to them directly through their website