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One of the noteworthy trends for Alcoa (NYSE:AA) is its trading pattern from the open to the close on the day following an evening report (it reported last night after the close).

Regardless of the direction that Alcoa opens in the morning following earnings, the stock typically trades lower from open to close. So if the stock gaps up after its report, history shows that it sells off from the open to the close the next day. If it gaps down (as it did last night), traders typically continue to sell the stock during regular trading hours the following day.

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