BY LICIA LESLIE
May 10, 2024
Hi Shoppers,
I am revisiting Alcoa Corporation (Ticker: AA).
If you remember, I talked about the cup and handle formation that ended up pulling back right after I wrote about it.
Now the stock is back up to the rim and looking ready to take that next leg higher.
Check out the weekly chart:
Once AA breakouts out above $38, it has plenty of room to run on the upside.
The first resistance level comes in at $42.33 and above there will be over $50.
Use the rim as your stop loss.
Trade Review
I was wrong about 3M Company (Ticker: MMM).
The stock made a complete reversal and is now looking bullish.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain