Alcoa Inc AA has failed the first ascending triangular pattern. The stock is severely underperforming the Dow. Today, DOW made a good move upwards as expected, it should be headed to 10500 in the next few days.
Alcoa Inc AA unexpectedly drop, it was the one of the only 2 stocks of the DOW that went down. There is no clear reason for this. Some believe it is due to the break down of the triangle pattern which is seen as a bearish signal.
Bullish signals for Alcoa Inc.
Aluminum price increase (94.5cts/lb)
Stock closed slightly above support of $13.05
Short Term Trade: $13.05 - $15.30
This stock is now the most undervalued DOW stock with 60% upside potential.
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