Alcoa Corp. (NYSE) Analysis, Chart, and Trading Idea


The downward wave structures are truncated, the formation of the reverse wave model 'Boguraev's Matryoshka' is probable. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

Trading idea:

Buy at the formation of the ascending wave structure, where the wave (A) breaches the sloping channel of the downward truncated structure

Stop-Loss under the local minimum of the downward structure 33.48

Target price levels: 34.75, 37.00

Author: GC
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