AA: Three-Way Confluence for Possible Kumo BounceAlcoa CorporationBATS:AAtroydowvanzandtOn his YouTube channel this morning, Gareth Soloway gave a tip on AA. As usual, I took a look at it from an Ichimoku perspective. What I found was quite interesting. Price's current downward trajectory points to a three-way confluence of support in the form of the $48 pivot high from November 2024 and being in the neighborhood of the 61.8% Fib retracement. But that's only two! The third point of confluence comes when you use an Ichimoku indicator. It looks like the bounce is likely to occur at Senkou Span A of an up-sloping green cloud. In Ichimoku, this would be a Kumo bounce. The strength of this bounce will be determined by the candle coming off or out of the cloud. The best would be an expansion candle. The next best would be bullish engulfing. The third would be a pin bar. An interesting setup is developing. Of course, price could go right through the cloud for a Sanyaku Gyakuten. What it's least likely to do is start trading sideways in the cloud. Of the three permutations, the bounce seems most probable to me.