Swing Trading Strategies & Stock Picks Since 2003

Stock Pick of the Day

Resmed Inc)

Closing Price: $13.18

RSI: 26.74

MACD: -0.59

Alcoa Inc) is a basic materials producer primarily into aluminium. The stock has remained in a congested in a zone from $11.5 to $13.8 over the past two months.

Alcoa did well in the past week to close at a level $13.18. However, chances are high that it may start showing some slowing down, or even reversal yet again. Ideally, the short term traders should consider going short in the stock around $13.25, and wait for a level of $12, before covering the position.