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.