Alcoa (AA) NewsBite - AA Could Be On the Move

Posted: Monday, November 23, 2009 10:19 AM EDT

Alcoa (AA) could be on the move today and is now at $13.35, up $.22 (1.68%) on volume of 2,814,893 shares traded. Over the last 52 weeks the stock has ranged from a low of $4.97 to a high of $15.11. AA was covered in a Vic Wisemann report today. To read the report, and find out what Vic thinks about the possibility of a stock market bubble, go to www.marketintelligencecenter.com/vw112309 . Alcoa stock has been showing support around $12.84 and resistance in the $13.30 range. Technical indicators for the stock are bullish and S&P gives AA a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AA the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 11 range. [ABR-Seven Summits Strategic Investments NewsBite]

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