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Alcoa (AA) Crosses Pivot Point Support at $9.09
Jan 24, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Alcoa (NYSE:AA) have bearishly opened below the pivot of $9.16 today and have reached the first support level of $9.09. Should the shares continue to fall, the support pivots of $9.02 and $8.88 will be of interest.
Potential upside of 13.5% exists for Alcoa, based on a current level of $9.12 and analysts' average consensus price target of $10.35. The stock should find initial support at its 200-day moving average (MA) of $8.81 and further support at its 50-day MA of $8.65.
In the past 52 weeks, Alcoa share prices have been bracketed by a low of $7.97 and a high of $10.92 and are now at $9.12, 14% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.
SmarTrend is tracking the current trend status for Alcoa and will alert subscribers who have AA in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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