Technical Analysis – Alcoa stock rise a bit above 16-month bottom; bearish outlook in medium-term
Posted on November 15, 2018 at 1:50 pm GMTThe Alcoa stock price dipped to a new 16-month low of 33.00 on October 26 and it is currently hovering slightly above this level. The price remains below the medium-term descending trend line, which has been holding since April 19 within a narrow range. Technically, the RSI indicator is pointing slightly to the upside below the 50 level, while the %K line of the stochastic oscillator printed a bullish crossover with the %D line in the oversold zone, suggesting some gains. In case [..]