Alcoa Trading Analysis (25/09/2024)
The trend is descending. The stock is trading in the range between 365 and 135 ЕМА. The ascending wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trading idea:
- Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
- Stop-loss at 37.47.
- Price targets at 32.37 and 27.87.
#alcoa #stock #stocktrading #tradingstrategies #tradingmt5
