Market Technical View: Alcoa bullish scenario for short-term traders

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).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

Friday, February 17, 2012

Alcoa bullish scenario for short-term traders

Alcoa reversed at the support level of $10.00 and for the short term investors a ride towards the $10.86-$11.20 could turn into a profitable transaction, with a good risk/reward ratio.

However, the investors should pay attention to any kind of news related to the Greek debt bailout plan that could reverse the market in a matter of minutes.

Previous analysis: http://markettechnicalview.blogspot.com/2012/02/alcoa-support-at-1000.html