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Closing trading signal on Alcoa Corp - AA- profit +1,898$.

Profit realized on the signal ALCOA CORP

Profit cashed from the trade on AA on September 23, 2022

Good morning Traders,

On July 11, 2022 a Short Trading Signal was opened on Alcoa Corp (Ticker: AA) listed on the NYSE, and closed on September 23 realizing a profit of almost one thousand nine hundred dollars.

The trade was opened considering the macroeconomic data, the descent of the aluminum market (since the company operates in the aluminum processing sector) that started after the high made in March 2022 (three months before the high made by oil), and the bearish trend that broke the previous ones.

In addition, the company for and our valuations, was priced extremely overvalued relative to its intrinsic value at the time of entry.

The company's financials are good, but with a very poor growth forecast for the next 3 years.

After our entry into the market, Lift-Off found four short signals that confirmed our bearish view on the stock.

Below chart showing trade entry and close

The trade yielded a profit over 19% of the equivalent value of the shares sold (about $10 thousand)

Some information about Alcoa Corp

Alcoa Corp. is engaged in the production of bauxite, alumina, and aluminum products. 

Trans global operations are involved in the mining of bauxite, refining it to produce alumina, and finally combining smelting and casting operations to produce primary aluminum.

Smelting operations produce molten primary aluminum, which is then  cast into smelter ingots or value-added ingot products, including billets, bars, and slabs. The company was founded by Charles Martin Hall on July 9, 1886, and is headquartered in Pittsburgh, Pennsylvania.

Financial Overview: AA's current market capitalization is $7,238B USD. The company's TTM EPS is 5.26 USD, dividend yield is 0.99% and PE is 7.33. Alcoa Corporation's next earnings release date is October 19. The estimate is $0.21 USD.

Accounts, including revenue, expenses, profit and loss: AA's total revenue for the latest quarter is $3.77B USD, up 10.87% from the previous quarter. Net income in Q2 22 is $549.00M USD.

Overview data and accounts source: Tradingview.com

A AA Signal Board

Signal Entry Short: $43.82

Signal Closure: $35.446

Net Profit: $1,898.33