[lwp_divi_breadcrumbs font_icon=”5||divi||400″ use_custom_home_link=”off” link_color=”#000000″ separator_color=”#000000″ current_text_color=”#FFFFFF” admin_label=”Breadcrumbs” module_class=”insight-breadcrumbs” _builder_version=”4.27.0″ _module_preset=”default” global_colors_info=”{}”][/lwp_divi_breadcrumbs]

Market Insights

Bringing you the trading news around the world.

Chart of the Day: Will Alcoa Continue Lower?

[showmodule id=”58959″]

Alcoa rallied early last year after the Ukraine war threatened aluminum supplies. It’s struggled since and now some traders may expect further pushes to the downside.

The first pattern on today’s chart is the series of lower highs since August (marked with red arrows). Those may reflect a lack of long-term interest in the name.

Speaking of long-term moves, the …

For more, please click here to view the related idea and chart analysis on TradingView.

Alcoa (AA), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.