Bulls are saying that AA is undervalued and will soon break
upwards confirming that investors have a positive outlook on a
global economic recovery for 2013 led by growth in China/Asia.
Alcoa Sees Aluminum Use Climbing on China
Recovery
Bears are saying that AA is flatlining with demand from China
down and global aluminium prices depressed for some time,
confirming a bleak outlook for the world economy.
--
AA is currently ~80% below its 2007 high of ~$49 and
currently above its 2009 low of ~$5.
--
AA's failures at its resistance trendline since the Oct-2011
market bottom have been a pretty good signal of intermediate market
pullbacks and downturns. If AA can't get out of bed and break above
resistance then we'll probably see markets correcting in the next
10 trading days. If AA rolls over here then a break of support at
$8 would likely see price descend to ~$6.
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Global Industrial Giant Alcoa (AA)
Posted by rixx on 10th of Feb 2013 at 11:22 am
Bulls are saying that AA is undervalued and will soon break upwards confirming that investors have a positive outlook on a global economic recovery for 2013 led by growth in China/Asia.
Alcoa Sees Aluminum Use Climbing on China Recovery
Bears are saying that AA is flatlining with demand from China down and global aluminium prices depressed for some time, confirming a bleak outlook for the world economy.
--
AA is currently ~80% below its 2007 high of ~$49 and currently above its 2009 low of ~$5.
--
AA's failures at its resistance trendline since the Oct-2011 market bottom have been a pretty good signal of intermediate market pullbacks and downturns. If AA can't get out of bed and break above resistance then we'll probably see markets correcting in the next 10 trading days. If AA rolls over here then a break of support at $8 would likely see price descend to ~$6.