Thursday, January 19, 2017 11:43:13 AM
More talk of imposing a tariff on China metal imports sent Alcoa Corp (NYSE:AA) soaring. The stock is becoming a favorite recipient for Donald Trump's rhetoric on trade tariffs. As the stock surges higher, calculating the final target becomes extremely important both for investors holding the stock long and investors looking to short it. To calculate this target, investors need to note the perfect measured move in progress. Notice on the stock chart below how the first move up was $12, from $20 to $32. Then note the perfect bullish consolidation sideways, prior to the breakout. To figure out the target, simply take that same $12 move and add it to the low of the current surge. The low is $28, so adding $12 gives you a final target of $40. In other words, Alcoa Corp still has another $5 of upside before it slams into mega resistance and becomes a short trade. Long investors can enjoy the ride for another 15% upside.
Gareth Soloway
InTheMoneySTocks
Recent AA News
- Alcoa President and Chief Executive Officer William Oplinger to Participate in BofA Securities 2024 Global Metals, Mining & Steel Conference • Business Wire • 05/06/2024 12:30:00 PM
- TSMC Revenue Rises 13% in Q1, Alcoa Exceeds EBITDA Expectations Despite Loss, and More Earnings News • IH Market News • 04/18/2024 11:14:18 AM
- Alcoa Corporation Reports First Quarter 2024 Results • Business Wire • 04/17/2024 08:10:00 PM
- US Index Futures See Gains, Oil Prices Dip • IH Market News • 04/17/2024 10:59:02 AM
- Alcoa Schedules First Quarter 2024 Earnings Release and Conference Call • Business Wire • 03/26/2024 08:30:00 PM
- Alcoa Corporation Announces Closing of Inaugural Green Bond Offering • Business Wire • 03/21/2024 08:30:00 PM
- Alcoa Enters into Binding Agreement to Acquire Alumina Limited • Business Wire • 03/11/2024 10:42:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 09:19:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 12:18:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/27/2024 09:32:46 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/26/2024 09:36:41 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/26/2024 09:34:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/26/2024 09:32:51 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/26/2024 01:44:56 PM
- Broadcom in Talks to Sell Computing Unit, Alcoa Acquires Alumina for $2.2 Billion, and Latest News • IH Market News • 02/26/2024 10:55:58 AM
- Alcoa Announces Agreement With Alumina Limited on Terms and Process to Acquire Alumina Limited in All-Stock Transaction • Business Wire • 02/25/2024 10:04:00 PM
- Alcoa Corporation Declares Quarterly Cash Dividend • Business Wire • 02/22/2024 04:00:00 PM
- Alcoa’s President and Chief Executive Officer, William Oplinger to participate in BMO 2024 Global Metals, Mining & Critical Minerals Conference • Business Wire • 02/19/2024 01:30:00 PM
- Alcoa to supply Nexans with low-carbon aluminum, including metal from ELYSIS™ technology • Business Wire • 02/01/2024 01:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/31/2024 09:28:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/31/2024 09:23:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/31/2024 09:22:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/31/2024 09:21:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/26/2024 09:19:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/26/2024 09:18:35 PM
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