Alcoa valuation favorable, says Argus After Alcoa reported lower than expected EPS, Argus thinks the company will have several catalysts in 2014, including strong aluminum demand and cost-cutting. The firm keeps a Buy rating on the stock.
Alcoa rallies with Freeport-McMoRan, materials sector Shares are up over 5% to $9.33 at time of writing, putting it above downtrend resistance at the 10-day moving average. At that price next resistance is at $9.51. Support is at $9.19.