Alcoa Corp (NYSE:AA) stock hits three-year high, surging 7.3% to $60.67. Up 40% in last month, attracting investor attention. Rally potential continues with historically low implied volatility (IV), according to Schaeffer’s data. AA has been higher 60% of the time one month after similar signals, with an average 8% gain.

In the past five years, AA traded near 52-week high 5 times with SVI in 20th percentile or lower. Current SVI at 45%, in 13th percentile, signaling potential for further gains. A move similar to past signals could push shares to $65.71, highest level since May 2022. Support at 10-day moving average.

Read more at Yahoo Finance: Alcoa Stock’s Rally Could Still Have Legs