Alcoa: ⬆️ Buy
– Alcoa reversed from strong support level 55.80
– Likely to rise to resistance level 68.20
Alcoa recently reversed from the strong support level 55.80 (which has been repeatedly reversing the price from January) standing close to the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November.
The upward reversal from the support level 55.80 started the active intermediate impulse wave (3).
Given the overriding daily uptrend, Alcoa can be expected to rise to the next resistance level 68.20 (which stopped earlier waves (1) and B).