We saw a positive sign for Alcoa $AA when price bounced off the 200-day simple moving average (SMA), and a range support. It essentially maintained its bullish mode since 2017. It has now broken above a recent consolidation range, signaling bullish continuation.AA Daily Chart(click to enlarge)Breakout:- The daily chart shows how price has been in a consolidation range since February, and that price has broken above the 10.10 resistance.- The breakout opens up the $57.50 high on the year. - If there is a pullback, a hold above $48.00 would support the bullish outlook.- A break below $47 on the other hand would suggest that this was a false breakout, which would in turn be a bearish signal.