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Watch for Shares of Alcoa (AA) to Approach Resistance at $8.94
[February 01, 2013]

Watch for Shares of Alcoa (AA) to Approach Resistance at $8.94

Feb 01, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Alcoa (NYSE:AA) opened today above their pivot of $8.83 and have already reached the first level of resistance at $8.89. Should the shares continue to rise, the resistance pivots of $8.94 and $9.05 will be of interest.

Alcoa (NYSE:AA) has potential upside of 16.6% based on a current price of $8.88 and analysts' consensus price target of $10.35. The stock should find initial support at its 200-day moving average (MA) of $8.79 and further support at its 50-day MA of $8.73.

Over the past year, Alcoa has traded in a range of $7.97 to $10.92 and is now at $8.88, 11% above that low. The 200-day and 50-day moving averages have moved 0.22% lower and 0.63% higher over the past week, respectively.


SmarTrend is tracking the current trend status for Alcoa and will alert subscribers who have AA in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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