Alcoa (AA) Approaches New Downside Target of $15.22

Shares of Alcoa (NYSE:AA) have bearishly opened below the pivot of $15.49 today and have reached the first support level of $15.37. Analysts will be watching for a cross of the next downside pivot targets of $15.22 and $14.95.

There is potential upside of 32.9% in shares of Alcoa based on a current price of $15.36 and an average consensus analyst price target of $20.41. Alcoa shares should encounter resistance at the 50-day moving average (MA) of $16.85 and support at its 200-day MA of $15.00.

Over the past year, Alcoa has traded in a range of $9.81 to $18.47 and is now at $15.37, 57% above that low. The 200-day and 50-day moving averages have moved 0.69% higher and 0.79% lower over the past week, respectively.