AA Alcoa Corp - Oversold finding support just above $11.50 this week. Expecting to see a near term bounce from this level.Adding to the bullish sentiment - some unusual options activity Friday:
19k $14.00 strike (far OTM) Jan'21 calls traded vs open interest of 1,156 or 16 times OI for a total premium outlay of $1.5M
Near term price target = $13.00-$14.00 range by mid-October
Note: This is NOT investment advice.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.