Alcoa (NYSE:AA) has drawn a lot of interest over the last couple of days, after moving up close to 5 percent yesterday, and up another 2.5 percent today.
Volume has been strong, already surpassing its 3-month average at 1:40 PM EDT.
There is no known reason Alcoa is moving up, as aluminum prices have remained at about their six-week high.
Alcoa has done a good job of cutting costs, but that is already been factored into the price.
Even so, analysts like the stock over recent months, and it may be based on the probability it may have hit its low and has nowhere to go but up.
But with Alcoa going as aluminum demand and prices go, there's nothing on that end which explain this upswing.
Alcoa closed Wednesday at $11.70, gaining $0.53, or 4.7 percent. There were at $11.97, up $0.27, or 2.26 percent, at 1:44 PM EDT.
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