Rochester, NY 8/6/2009 7:29:44 PM
Alcoa Inc, AA - New Highs For The Year
ALCOA INC
ALCOA INC, AA
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Alcoa is the top DJIA performer today, with a 7% surge to new highs for the year. The powerful move has lifted the stock above major resistance near $12.50. This area includes multi-month highs left behind in November, January and June, while Alcoa was tracing out a long-term base after the huge third-quarter 2008 breakdown. The stock eventually put in a substantial low midway through the consolidation in March at $5.00.
The rally off the early March lows got a huge boost on the July 19, when the stock exploded for a 17% gain on 5 times the average trade. AA Daily -- NYSE AlcoaTradeStation With a solid bottom in, Alcoa had a very strong run into early June before running into the $12.50 resistance area.
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