Bullish Option Flow Detected In Alcoa $AA Stock

  • Post category:Options Trading
  • Reading time:4 mins read
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Bullish option flow was detected in AA stock on December 22, 2021.

Bullish Option Flow In AA Stock

Aa Option Flow

Make sure to review this lesson on option flow so that you understand the image above.

Alcoa initiated with an Outperform at Wolfe Research

On November 16, 2021, Wolfe Research analyst Timna Tanners initiated coverage of Alcoa with an Outperform rating and $63 price target. Tanners cites a positive view on aluminum fundamentals and forecasts prices to remain elevated “at least” through 2023.

Biden administration to ease tariffs on Japanese steel, aluminum, WSJ says

On November 12, 2021, the White House was moving to ease import tariffs on steel and aluminum from Japan, the Wall Street Journal’s Yuka Hayashi reports, citing people familiar with the situation. The Biden regime’s plan is to ease tariffs on Japan, with the aim of establishing an arrangement to let some Japanese metals enter the U.S. tariff free, the author notes. Publicly traded companies in the steel space include AK Steel (AKS), ArcelorMittal (MT), Nucor (NUE), Steel Dynamics (STLD), TimkenSteel (TMST) and U.S. Steel (X). Publicly traded companies in the aluminum space include Alcoa (AA), Century Aluminum (CENX), Kaiser Aluminum (KALU), and Arconic (ARNC). Source: https://www.wsj.com/articles/u-s-moves-to-ease-tariffs-on-imported-steel-aluminum-from-japan-11636750009?mod=latest_headlines

📺 VIDEO Steel & Aluminum Metal Markets: Q4 2021 Update and 2022 Outlook

In November 2021, The Metal Roofing Channel gave their analysis on the steel and aluminum metal markets.

Steel & Aluminum Metal Markets: Q4 2021 Update and 2022 Outlook

📈 AA Stock Technical Analysis

Aa Stock

The long and short term trends are both positive. This is looking good! AA is one of the better performing stocks in the Metals & Mining industry, it outperforms 97% of 1008 stocks in the same industry. AA is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market. Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up. Although AA has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when AA stock is a good entry.

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