marketfellow

2022 Actual Trade: AA +31% Profits

NYSE:AA   Alcoa Corporation
- 3-4 month base build a flat channel pattern in the tight range 44-52
- first entry point occurred 12/16/2021 at 52 when AA broke out the pattern
- we missed this entry point but we waited until its first consolidation 56-64 until early February
- obviously, AA was ready to make its prime time rally on February 7-8 when getting out 64 so it was our entry point 02/08 at 67
- the timing was right that AA took off immediately for the rally
- Fast February gave us enough buffer to hold through the tough March
- Then, another rally again gave the opportunity to take +31% within two months
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