Hello All!
This is my first post. Please don't be too cruel to me. I am new to technical analysis, candlesticks and charting. I want to learn and hopefully successfully apply all the good ideas to manage / grow my savings.
I personally do not think Alcoa is going out of business any time soon. The stock price is at its low, if not the lowest level. I believe there is a strong support zone $8-10 per share (monthly chart).
I also see that AA has been travelling between 8 and 18 since 2009 (weekly chart).
Recently the stock jumped two points on "squeeze", but retracing due to poor earnings (October 8). I am considering to pick it up after a short term, in my mind, pull back to $10 level (daily chart).
What do you think? Go or no go?
Alex
This is my first post. Please don't be too cruel to me. I am new to technical analysis, candlesticks and charting. I want to learn and hopefully successfully apply all the good ideas to manage / grow my savings.
I personally do not think Alcoa is going out of business any time soon. The stock price is at its low, if not the lowest level. I believe there is a strong support zone $8-10 per share (monthly chart).
I also see that AA has been travelling between 8 and 18 since 2009 (weekly chart).
Recently the stock jumped two points on "squeeze", but retracing due to poor earnings (October 8). I am considering to pick it up after a short term, in my mind, pull back to $10 level (daily chart).
What do you think? Go or no go?
Alex