New York, October 27th （TradersHuddle.com） - Shares of Alcoa, Inc. （NYSE:AA） traded at $12.87 close to its 200 day moving average currently set at $12.38. Alcoa's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.
Alcoa Inc. produces primary aluminum, fabricated aluminum, and alumina, and participates in mining, refining, smelting, fabricating, and recycling. Its products are used in aircraft, automobiles, commercial transportation, building and construction, oil and gas, defense, and other industrial applications. Alcoa was founded in 1888 and serves customers worldwide.
Latest price action range, defined by a peaks and troughs algorithm places calculated support at $12.58 and calculated resistance at $13.49. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Alcoa stock.
Traders wanting to establish a position on Alcoa will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.
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