Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alcoa Corp shares valued at $814,582 were sold by Jones Tammi A on Mar 13 ’24. At $30.78 per share, Jones Tammi A sold 26,468 shares. The insider’s holdings dropped to 41,166 shares worth approximately $1.54 million following the completion of this transaction.
Also, Jones Tammi A sold 1,440 shares, netting a total of over 44,165 in proceeds. Following the sale of shares at $30.67 each, the insider now holds 9,265 shares.
As published in a research note from Morgan Stanley on April 22, 2024, Alcoa Corp [AA] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $36.50 from $28.50. Analysts at UBS started covering the stock with ‘”a Sell”‘ outlook in a report released in mid January. As of December 07, 2023, HSBC Securities has initiated its “Hold” rating for AA. Earlier on October 23, 2023, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for AA stock which previously was a “a Buy”.
Analyzing AA Stock Performance
During the last five days, there has been a surge of approximately 3.95%. Over the course of the year, Alcoa Corp shares have jumped approximately 9.88%. Shares of the company reached a 52-week high of $38.20 on 04/29/24 and a 52-week low of $24.86 on 02/26/24. A 50-day SMA is recorded $33.66, while a 200-day SMA reached $29.81. Nevertheless, trading volume fell to 4.53 million shares from 4.06 million shares the previous day.
Support And Resistance Levels for Alcoa Corp (AA)
According to the 24-hour chart, there is a support level at 36.66, which, if violated, would cause prices to drop to 35.95. In the upper region, resistance lies at 37.88. The next price resistance is at 38.39. RSI (Relative Strength Index) is 58.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.76, which suggests the price will decrease in the coming days. Percent R is at 19.44%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
