Alcoa may see turnaround due to investment in aluminum cars, WSJ says Alcoa may be turning itself around due to its commitment to using aluminum for the bodies and frames of its car as it invests $575M to expand new lines in Iowa and Tennessee, reports the Wall Street Journal. Aluminum producers have also began to cut capacity to try to counteract a glut. Reference Link
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.