Near Key Levels: Alcoa

New York, December 31st (TradersHuddle.com) - Alcoa, Inc. (NYSE:AA) closed the the trading session at $8.50, near its 50 day and 200 day moving averages currently set at $8.58 and $8.91 respectively. Alcoa's price action places the stock below these important levels, which makes it difficult to be bought, as it will certainly face resistance as it approaches these important moving averages.

Alcoa Inc. (NYSE:AA) produces primary aluminum, fabricated aluminum, and alumina, and participates in mining, refining, smelting, fabricating, and recycling. Its products are used in aircraft, automobiles, commercial transportation, building and construction, oil and gas, defense, and other industrial applications. Alcoa was founded in 1888 and serves customers worldwide.

The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $7.98 and resistance at $8.91. Traders should monitor these levels, as they provide insight into the latest price dynamics in Alcoa.

If traders want to establish a position on Alcoa, given the heavy resistance expected near the 50 and 200 day moving averages, a trade might be evident as the stock manages to break these moving averages. However, until the break materializes buying the stock is nothing different than flipping a coin.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,814.94 ▼2.96 (-0.02%)
o S&P 500 2,067.03 ▼2.38 (-0.12%)
o NASDAQ 4,758.25 ▲3.36 (0.07%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,814.94 Trade time:4:31PM EST Value change:▼2.96 (-0.02%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,067.03 Trade time:4:31PM EST Value change:▼2.38 (-0.12%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,758.25 Trade time:5:15PM EST Value change:▲3.36 (0.07%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.