This is the daily chart for Alcoa Inc AA.
It is obvious that this is a rising triangle formation waiting to breakout. The pole is $1.20 long, so a breakout above $13.90 would give this a swing target of $15.10
Watch the economic news tomorrow. If unemployment claims decline to 430,000 load up on Alcoa Inc AA.
If unemployment claims is above that but below 470,000, watch Alcoa Inc AA chart closely. Strength in the general market would boost Alcoa to at least $14.
Aluminum cancelled warrants are increasing, meaning that demand for physical aluminum is increasing.
Alcoa Inc AA is a good buy now.
For higher risk play, consider CENX, earnings release next week. CENX moves 1.3X more than AA.
This week is option expiration, usually stocks will close near the .00 levels, Alcoa should close near $14 as the options expire, this would allow puts to expire worthless.
Buy Alcoa Inc at $13.6 to $14.2
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