Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

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Thursday, January 26, 2012

Alcoa share price seems cheap for how the market looks like

Alcoa share price rose in the past few sessions and broke the T1 trend line, signaling though a bullish move towards the $11.20-$11.60 target area.

The previous analysis (http://markettechnicalview.blogspot.com/2012/01/alcoa-is-on-watch-list-20120116.html) signaled a good possibility for the shares to appreciate and now, technically speaking, the scenario is confirmed.

The bigger picture shows that the market could reach as high as $14.00/share in a matter of months. In order to get confirmation for this scenario the share price should break the first main resistance. 


Posted by Adrian Filip at 2:57 PM
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