AA - Alcoa

Here are the results from my trade:

AA (+10.13%)
Qty: 171 Avg Buy: $9.38 Avg Sell: $10.33 Return %: (+10.13%) Result: Win

 

Nice trade Silver Dragon. I'd like to see it retrace but it looks like sellers are being absorbed the last 4 days; a springboard to higher prices perhaps.

 

I am happy to see it moving up for the moment - not a fan of reverse splits. I am 90% out but will revisi

 

AA disappoints

 

AA and CENX doing well for me. News is that the Chinese are under pressure to end their attempts to monopolize the aluminum industry by subsidizing their many inefficient plants. My Point and Figure target on AA is $59.

Daily Sticks:


Weekly Sticks as of Close Thursday

 

Sold little position from post-split, 11.25 shares. Plan on repurchasing a 100 once price drops again to maybe $28 if it does.

 

Some action on AA. Short term P&F target is $42. Up over 36% on this trade thus far. For what it is worth to those who care, the ER is next Tuesday Jan 24th after the close.

Daily: Jan 18th, 2017

 

Alcoa grinding higher on a negative market day. Up 38.6% thus far on this trade. Short term upside objective is $42.

Daily Sticks Jan 19th, 2017

 

$42 eminent. Holding with 22.5% combined gain (with spinoff ARNC).

 

Decided to take profits on this trade on the stopping action and test of the larger trading range. That range began way back in early 2009, so there is some major upside to come if that happens and I will want to get back on board on a retracement. I believe it will break out since the short-term and mid-term objectives of $42 and $59 still need to get hit and I haven't yet computed the cause built in the larger trading range.

Gain on this trade was 51%

Daily Sticks:

 

Out for now but likely will re-enter. There is a long ways to go yet. Point and Figure work gives the following price objectives:

• Short-term $42
• Mid-term $59
• Long-term $185

That long-term objective is based on cause built during an 8-year-old and counting trading range.

Weekly Sticks:

 

A $1-box by 3-box-reversal Point & Figure:

 

Any number of how low it might come?

 

Well as you can see above I had a 1x3 target of $41 and the 1x1 target was 42. It actually made it to 39.78, so might have to assume that it fell short, which isn't surprising since if you look at the weekly chart above it did not go up with the kind of strength needed to break out of that large trading range(TR) that dates back to early March 2009; 8-year-old TR. It will need to re-group and attack it again.

It did build some cause at the top of that range and broke down. The 1x1 shows a target of $26 which would put it down to a re-test of the medium-sized TR.