I rarely trade or post an AA chart but I had sent this out to members DEC 15th . I thought at the time since most analysts hated it and the big drop we had to key supports in December got me interested at it since thought that was worth it as a risk/reward setup. Look at the chart & you’ll get an idea of the spreadsheet I use to calculate risk/reward on any trades i enter.
I didn’t take on the trade since i was away from late Dec to early January ( at that point didn’t want to chase it up to $9.50 area )
Alcoa is a slow moving trade & definitely had help due to this strong market:
Many stocks gave much bigger % gains from mid Dec to now but thought this 22% move from $8.50/$9 to almost $11 ( my 2nd target) was an easy miss
Initially the target was 12-24% for a 4%+ risk and AA never dropped under $8.50 ( so the suggest stop of $8.45 held )
double click the chart to see it bigger and to be able to read the notes:
Hope you enjoy this analysis