Alcoa Corp. Trading Analysis (12/06/2023)

#AA
 

The trend is descending. The stock is traded in the range between 365 and 135 ЕМА. The ascending truncated wave structure finished with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.
 

Trading idea:

Sell at the breach of 34.75.

Stop-Loss 36.30.

Target price levels: 33.50; 31.20.

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