Alcoa Corp. (NYSE) Analysis, Chart, and Trading Idea

#AA
 

The downward wave structures are truncated, the formation of the reverse wave model 'Boguraev's Matryoshka' is probable. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
 

Trading idea:

Buy at the formation of the ascending wave structure, where the wave (A) breaches the sloping channel of the downward truncated structure

Stop-Loss under the local minimum of the downward structure 33.48

Target price levels: 34.75, 37.00