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|It was a first positive week after 4 consecutive negative weeks for the Alcoa Inc (AA). During the week, the AA gained 0.88 points, or 1.85%, and closed at 48.52 on Friday, June 08, 2018. Weekly volume was -40% below average. |
AA is a member of Basic Materials Sector. Basic Materials is the most overbought 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 March 28, 2018 at 43.69 and reached 62.35 on April 19, 2018. AA gained -18.66 points, or -42.71%, in 3 weeks. The price is now at the 74.12% retracement level.
Medium-term trend: [See AA medium-term trend chart]
A medium-term uptrend had started on May 29, 2018 at 46.82 and reached 50.43 on May 31, 2018. AA gained -3.61 points, or -7.71%, in 0 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 47.45 and resistance is at 51.18. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle 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 May 18, 2018. Use the following link to access a MACD help.
Short-term trend: [See AA short-term trend chart]
A short-term downtrend had started on June 6, 2018 at 50.19 and reached 48.44 on June 8, 2018. AA lost 1.75 points, or 3.49%, in 2 days. Price is near the trend low.
Daily Technical Indicators: [See AA daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.