Alcoa (AA) has been on a bullish continuation swing after a bullish breakout from the 2017 consolidation pattern, which was a falling wedge.Alcoa (AA) Daily Chart(click to enalrge)Bullish Continuation:- The daily chart shows a prevailing bullish market that consolidated under 40 for most of 2017. - There was a bullish continuation breakout in July.- Now price has climbed to new highs on the year.Rangebound- AA has been trading in a sideways range since 2008, after the global financial crisis.- The monthly chart below shows the range between roughly 11.40 and 41.75. - We have price threatening to break this resistance.- If price closes this week above 42, we have a breakout that first opens upt he 50.00 handle. Strength:- The strength of the bullish swing in the recent couple of months suggests the market is likely going to break above 42 and thus open up the 50.00 handle. Alcoa (AA) Monthly Chart(click to enlarge)