During Monday night's Lightning Round segment of Mad Money one caller asked Jim Cramer about Alcoa Corp. (AA) . "That was a brilliant quarter. I'm a buyer," responded Cramer.
Let's see what the charts say.
In the daily bar chart of AA, below, we can see that the shares have just about doubled in price from late January. Prices are trading above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line has followed the price action higher the past 12 months and is very close to making its own new high to confirm and support the new price highs.
The Moving Average Convergence Divergence (MACD) oscillator turned upward in the middle of April for a fresh outright buy signal.