The Greedy Trader Weekly Analysis
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Alcoa Inc
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Summary:
Weekly :Oversold sectorOversold industry
Daily :Williams' Percentage Range is overboughtThe price has risen above the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was the negative week for the Alcoa Inc (AA). During the week, the AA dropped -0.42 points, or -1.45%, and closed at 28.60 on Friday, February 1, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was 29% above average.

AA is a member of Basic Materials Sector. Basic Materials is the most oversold sector. AA is a member of Aluminum Industry. Aluminum is the eighth most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AA long-term trend chart]
A long-term downtrend had started on April 19, 2018 at 62.35 and reached 25.01 on December 26, 2018. AA lost 37.34 points, or 59.89%, in 35 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 20.76 and resistance is at 29.75. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See AA medium-term trend chart]
A medium-term downtrend had started on May 21, 2018 at 51.20 and reached 25.01 on December 26, 2018. AA lost 26.19 points, or 51.15%, in 31 weeks. The price is now at the 13.71% retracement level.

Weekly Technical Indicators: [See AA weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since May 18, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AA short-term trend chart]
A short-term uptrend had started on January 22, 2019 at 27.53 and reached 30.26 on January 31, 2019. AA gained -2.73 points, or -9.92%, in 9 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 28.09 and resistance is at 30.45. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See AA daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since December 26, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (7.55%) is close to one year low (8.52%). It is 58.96% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.29
Williams' Percentage Range (W%R) 16.00
Overbought
Lane's Stochastic (%D-Slow) 50.95
Greed/Fear Indicator (GFI) 61.76
Moving Average Converg./Diverg. (MACD) -0.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.84
Williams' Percentage Range (W%R) 77.00
Lane's Stochastic (%D-Slow) 28.87
Greed/Fear Indicator (GFI) 30.67
Moving Average Converg./Diverg. (MACD) -4.05
Trading Signals
Description Value Chart
Weekly Trendline Resistance 30.45
Upper Bollinger Band 29.78
Yearly Trendline Resistance 29.75
Daily Stochastic Crossing 29.21
50 Day Moving Average 29.07
20 Day Moving Average 28.74
Price 28.60
Weekly Trendline Support 28.09
Lower Bollinger Band 27.63
Parabolic System 27.56
Weekly Stochastic Crossing 27.39
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Aluminum 8
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 30.26
High Date 01/31/2019
Low 28.27
Low Date 02/01/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 30.45
Support 28.09
Low 27.53
Low Date 01/22/2019
High 30.26
High Date 01/31/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 30.28
High Date 01/17/2019
Low 27.53
Low Date 01/22/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 51.20
High Date 05/21/2018
Low 25.01
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 29.75
Support 20.76
High 62.35
High Date 04/19/2018
Low 25.01
Low Date 12/26/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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