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|It was a first positive week for the Alcoa Inc (AA). During the week, the AA gained 1.44 points, or 3.14%, and closed at 47.36 on Friday, February 16, 2018. Weekly volume was 8% above average. |
AA is a member of Basic Materials Sector. Basic Materials is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See AA long-term trend chart]
A long-term uptrend had started on June 16, 2017 at 29.55 and reached 57.50 on January 12, 2018. AA gained -27.95 points, or -94.59%, in 30 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (48.79) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
Medium-term trend: [See AA medium-term trend chart]
A medium-term downtrend had started on January 12, 2018 at 57.50 and reached 44.15 on February 9, 2018. AA lost 13.35 points, or 23.22%, in 4 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 41.78 and resistance is at 50.61. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See AA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 2, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See AA short-term trend chart]
A short-term uptrend had started on February 9, 2018 at 44.15 and reached 50.18 on February 16, 2018. AA gained -6.03 points, or -13.66%, in 7 days. The price is now at the 46.77% retracement level.
Daily Technical Indicators: [See AA daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since January 17, 2018.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.