Alcoa breaks long run downtrend with earnings beat

15 Tem 2020

Alcoa has made over 100% since my initial trade idea. Just as a general rule I booked Some profits and sold calls against my position at my intermediate price target of 20. If price holds from today’s earnings beat the long term downtrend will have been broken. I expect a retest of the down trend line and or horizontal support at some point and will scale back in on total market weakness