
Alcoa used the broad-market rally to grind out support near $5.45 on March 9th, bouncing off that support on huge volume coinciding with an equity offering and an analyst upgrade on March 19th.
Alcoa struggled with $8 resistance after its earnings announcement in early April. After breaking through on April 9th, Alcoa rallied just above $9 shortly thereafter before retracing. A big rally from April 28th to May 4th pushed towards $10.50, followed by a sharp correction.
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