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

#AA
 

We observe the 'Pin Bar' reversal pattern with a false breach on the 1D timeframe. The major descending wave structure is truncated. 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 pivot 39.43

Stop-loss: 38.08

Target price levels: 41.87, 46.00