Alcoa Corp.: technical analysis 07.06.2023
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on Alcoa Corp. for a better understanding of the current market situation and more efficient trading.
Shares of Alcoa Corp., one of the world’s largest aluminum producers, are trading at 34.00.
On the daily chart, the price is moving within a corrective trend, retreating from the support line of the global downward corridor with dynamic boundaries of 36.00–31.00.
On the four-hour chart, it can be seen that after the breakdown of the low of 33.50, the quotes reversed and returned above it. After reaching the upper limit of the local channel at 35.00, another change in the direction of movement is likely, and an increase in the global momentum with an attempt to reach the year’s low of 31.10.
Technical indicators keep a sell signal: the EMA fluctuation range on the Alligator indicator remains wide, and the AO histogram forms corrective bars in the sell zone.
Trading tips
Short positions may be opened after the price drops and consolidates below 33.50 with the aim of 31.10. Stop loss – 34.50. Implementation period: 7 days or more.
Long positions may be opened after a reversal, growth, and price consolidation above 36.00 with the target at 40.00. Stop loss — 35.00.
Use more opportunities of the NPBFX analytical portal: analytics
You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on Alcoa Corp. and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on Alcoa Corp. for a better understanding of the current market situation and more efficient trading.
Shares of Alcoa Corp., one of the world’s largest aluminum producers, are trading at 34.00.
On the daily chart, the price is moving within a corrective trend, retreating from the support line of the global downward corridor with dynamic boundaries of 36.00–31.00.
On the four-hour chart, it can be seen that after the breakdown of the low of 33.50, the quotes reversed and returned above it. After reaching the upper limit of the local channel at 35.00, another change in the direction of movement is likely, and an increase in the global momentum with an attempt to reach the year’s low of 31.10.
Technical indicators keep a sell signal: the EMA fluctuation range on the Alligator indicator remains wide, and the AO histogram forms corrective bars in the sell zone.
Trading tips
Short positions may be opened after the price drops and consolidates below 33.50 with the aim of 31.10. Stop loss – 34.50. Implementation period: 7 days or more.
Long positions may be opened after a reversal, growth, and price consolidation above 36.00 with the target at 40.00. Stop loss — 35.00.
Use more opportunities of the NPBFX analytical portal: analytics
You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on Alcoa Corp. and trade efficiently with NPBFX.