Longer Support & Resistance for Alcoa (AA)

Posted in General 
October 8th, 2009

Alcoa Inc. (NYSE: AA) is still trading up after its unexpected profit rather than a loss was reported last night.  Unfortunately, the stock is off its highs and has traded back under the $15.00 handle right at 8:00 AM EST.  At 8:05 AM EST we have already seen 1 million shares trade hands and the stock is at the $14.98 level right now.  By now you know the news, so what we wanted to do was to offer some support and resistance levels for the stock.  These will vary by which method you use, so think of this as a guide for wider trading bands in the coming days rather than this being a minute by minute band as the percentages are wide.

S-1: $14.80…    R-1: $15.10
S-2: $14.59…    R-2: $15.37
S-3: $14.17…    R-3: $15.88


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