Now the Alcoa (NYSE:AA) has taken on bear status, will the stock do what many stocks do and reverse direction? That's a real possibility, as its bearish behavior continues and more join the Alcoa bear camp.
In the short term we could see a possibly upward move, depending on how high above $13 a share Alcoa can move and for how long it is sustained.
While it is assumed Alcoa will ultimately plunge to below $8 a share by many, if they go past the mid-$13 a share mark it could disrupt a lot of those shorting the stock.
So for now it looks like Alcoa is going to swing between bear and bull status, with an emphasis on the swing part of that behavior.
5 comments:
$8 a share - In your dreams shorty. I'd mortgage the house if it got back there. Try doing a little homework and substantiating some of your drivel next time.
Agree, alcoa at $8.. NO WAY! We may go to $12 yes and then we will be on our way to $15 soon.
Noway $8...
$12 will be bottom of this stock. Shortly recover back to $14 I think
i honestly dont see it going to $8 i think it will be trading beetwen 12 and 15. but thats only my opinion.
Pretty lame article. $8? Come on, there is no value in this text at all. Pure opinion with no supportive research.
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