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Trade of the Day: Alcoa (AA)

What the charts say for the earnings frontrunner

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After the close today, Alcoa (AA) reports earnings, which is traditionally the start of the quarterly season.  Expectations call for negative growth for the company and Alcoa’s EPS estimates are paltry compared to recent quarters.

Technical analysis of AA’s charts seems support the idea that the stock could decline in the near-term, as well, with four short-term bearish indicators and oscillators appearing on AA’s chart in the past trading week. These are denoted by the red dots on the chart below:


According to Profit Scanner powered by Recognia, during the recent week of trading, the following short-term bearish indicators and oscillators have appeared on AA’s chart:

  • Apr 07, 2014 – Commodity Channel Index
  • Apr 04, 2014 – Slow Stochastic
  • Apr 03, 2014 – Fast Stochastic
  • Apr 02, 2014 – Relative Strength Index (RSI)

Let’s look at what each of these events can tell traders.

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