Kaiser Aluminum (#KALU) is an American aluminum producer. It is a spinoff from Kaiser Aluminum and Chemicals Corporation, which came to be when common stock was offered in Permanente Metals Corporation and Permanente Metals Corporation's name was changed to Kaiser Aluminum and Chemicals Corporation
KALU from the low of March 2020 managed to come back to pre-Covid level and reach USD 108. The stock then retraced from the high of USD 108 to $84
We want to point out how the $84.00 level has been a strong resistance/support in March, June and November 2020: it doesn't come as a surprise that the stock bounced from this level.
From a technical perspective, both RSI and MACD that are signalling potential reversal.
A close above the 50MA would give even more a push to the upside
Buy USD 94.00
TP1 USD 100.00
TP2 USD 108.00
SL USD 84.00
OTB Global Investments
London, 4 February 2021