CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Alcoa stock surges after great quarter

18:02 16 April 2021

Alcoa (AA.US) stock rose nearly 8.0% after the aluminum producer announced first-quarter results that topped analyst predictions. Alcoa reported a $0.79 adjusted profit, and sales of $2.87 billion, while Wall Street expected earnings of $0.46 per share on sales of $2.65 billion. Net income was $175 million in Q1 2021. That compares with income of $80 million in Q1 2020 and $4 million net loss in Q4 2020. Company benefited from high aluminum prices amid optimism that reopening economies will spur demand for everything from automobiles to airplanes and kitchen appliances. “We had an excellent first quarter with our best quarterly result since a record-setting year in 2018,” Alcoa President and CEO Roy Harvey said. “We excelled from the top line to the bottom line, controlling production costs and capturing the benefits of improved demand and stronger prices for alumina and aluminum.”

Alcoa (AA.US) stock rose sharpy following upbeat quarterly figures and is trading at the highest level since November 2018. If the current sentiment prevails then upward move may be extended to the resistance at $ 40.05 which coincides with the upper limit of the ascending channel. On the other hand, if sellers will manage to regain control and break below the lower limit of the channel, then downward impulse towards support at $27.50 could be launched. Source: xStation5

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back