Bearish Speculation for Aluminum Corporation Of China (ACH)

NEW YORK (AVAFIN) -- Shares of Aluminum Corporation Of China closed below the 50-day moving average of $10.69 as of Tuesday. This development is a sign of bearishness as long as prices remain below the moving average. Shares of ACH settled the day down $0.14 to $10.59 on lighter than usual volume. The daily stock range was between $10.58 and $10.72.
The development of resistance levels is critical for the entry and exit strategy. Based on the pivot points, the current support and resistance levels for ACH are $10.49 and $10.77 respectively. Investors will be monitoring the price closely as it trades within this range.
Aluminum Corporation of China Limited is engaged in the production of alumina, primary aluminum and aluminum fabrication products.
Aluminum Corporation Of China is part of the basic materials sector and aluminum industry and has market cap of 5.72B. The stock has gained 2.22% within the last quarter. The mean analyst rating for the stock is strong sell.

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