Let's visit with the charts a bit.
In the daily bar chart of AA, below, we can see that prices have declined over the past 12 months from around $28 to under $6. Prices are below the negatively sloped 50-day moving average line and the bearish 200-day moving average line.
The On-Balance-Volume (OBV) line tells a bearish story with its decline the past year. The Moving Average Convergence Divergence (MACD) oscillator has spent much of the last year below the zero line.
In this weekly bar chart of AA, below, we can see that the trend of AA has been down for over two years now and for a huge decline from above $60. The slope of the 40-week moving average line has been negative for the past two years.
The weekly OBV line has declined to a new low in the past four months and the MACD oscillator is bearish.
In this daily Point and Figure chart of AA, below, we can see a potential downside price target in the $6.50 area or so. A new base is needed before this chart improves.
Bottom-line strategy: Avoid. Nothing attractive on AA at this juncture.