Stock Price Prediction

Analysis and Insights

Technical Analysis:

Alcoa Corporation (AA) is currently trading at $32.32 as of 2025-03-10. The stock has been under pressure, losing nearly 6% recently, but traders are eyeing the $28 support level, which has historically led to reversals. The Relative Strength Index (RSI) is at 40.25, indicating the stock is not yet oversold, but the MACD is negative, suggesting bearish momentum.

News Impact:

The announcement of steel and aluminum tariffs by President Trump could impact Alcoa. While this may increase costs, it might also lead to higher domestic prices, potentially benefiting the company. However, the immediate effect is uncertain.

Support and Resistance:

The stock is approaching a critical support level at $28, which has been a reversal point in the past. Fibonacci levels indicate a pivot point at $32.99, with resistance at $35.14 and support at $30.84.

Options Insight:

The put contract at $33.00 has a 57% chance of expiring worthless, suggesting some confidence the stock will stay above this level. This could indicate a potential floor for the stock price.

Conclusion:

Based on the analysis, Alcoa's stock is expected to test the $28 support level. If it holds, a rebound to $34 is possible. The upcoming tariffs add uncertainty but may not significantly impact the short-term price movement.

Prediction:

• Target Price: $34.00
• Recommendation: Buy at $28.00 with a target of $34.00.