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Put Volume Grows on Aluminum Corp of China (ACH)
- China Aluminium Network
- Post Time: 2010/5/25
- Click Amount: 568
Shares of Aluminum Corp of China (NYSE: ACH) are trading higher on the session by 4.54%, currently at $20.50. The stock has been struggling and moving lower for the better part of six months, with each support level becoming resistance shortly thereafter.
The stock is now trading below both the 50-day and 200-day moving averages.
I am detecting put buying in the name today as well with a lot of small lots traded in the front month contracts. Put volume is now running at 2.47x the daily average.
Aluminum Corporation of China Limited (Chalco), together with its subsidiaries, is principally engaged in the exploration and mining of bauxite, the production and sales of alumina, primary aluminum and aluminum fabricated products and related research activities.
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