claydoctor

Alcoa thoughts ahead of earnings

NYSE:AA   Alcoa Corporation
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4 out of the last 5 earnings, market reaction was down (and one gap down) for an average of 5 days, then a significant bounce back and then some. Its been down to a base, and now up to??? HOWEVER, using RSI as an indicator, we are reaching overbought. Interesting how oil is right at its decision moment, will we breach through the resistance or bounce down, taking alcoa with it, and other commodities. What OIL camp are you in? Have we seen the lows yet, or not? That is the question. And half of the quarter has been down for aluminum prices.
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