Alcoa stock price analysis. Should I buy shares now?
01 Nov 2022
Alcoa stock price analysis. Should I buy shares now? Alcoa is a very important stock in the aluminum industry. Most of the alumina produced in Alcoa is smelter-grade and used to make aluminum metal. The company also has what’s known as non-metallurgical alumina, sold for various industrial applications such as water purification and the creation of refractory.
You could think that given the decline in aluminium prices, it makes sense to price in lower earnings for Alcoa in 2022, and that’s what the market is doing right now by pricing the stock lower. At some point, aluminium stocks could become an outstanding value.
Alcoa’s stock price is reacting to a solid weekly supply imbalance at the end of November 2022. Buying shares of Alcoa stock right now is not a good idea since the expectations for the aluminum stock are bearish right now.
Alcoa stock price analysis
Alcoa Stock Price Today. Should I buy shares of Alcoa?
As supply and demand traders, we do not need to pay attention to fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for stocks and ETFs.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
Join our supply and demand online trading academy If you want to learn how to trade stocks using our supply and demand trading strategy.
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