As Aluminum Titan Tanks, Watch This Trade
InTheMoneyStocks.com | Dec 13, 2018 01:44PM ET
Aluminum giant Alcoa (NYSE:AA) has been under severe selling pressure since April 2018. Back then, the stock traded as high as $62.35 a share. Since that high pivot, the stock has been selling off and now trades at $28.93 a share.h3 Watch This Support/h3
The next major support level that looks solid for the stock will be around the $25 area. This is where Alcoa broke out in November 2016. Often, larger time-frame breakout levels will serve as solid support when retested. This should be an area where the institutional money defends the name.
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