Lucky Atomic Number 13
Posted: October 21, 2013 Filed under: H&S Bottom, wedge | Tags: AA, Alcoa, Aluminium, Aluminum
Atomic number 13 in the periodic table is Aluminum or Aluminium. More about the history of aluminum’s naming and discovery here. Now lets look at the third largest producer of aluminum, Alcoa (AA).
AA completed a 2-year falling wedge after breaking out last week. Whats interesting here is the other smaller pattern that has formed prior to breakout which is an 8-months H&S Bottom which has yet to complete. The neckline is a bit tricky because the pattern is sloping downwards so watch 8.68-8.88 area. A move beyond that area target $9.80
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“Whenever you find yourself on the side of the majority, it’s time to pause and reflect.”
– Mark Twain