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

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

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

• 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

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

Alcoa Corporation (NYSE: AA) - 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

• 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.