We're only halfway through the impulse wave -- target 53.83

Alcoa is within its 5th wave and those who were able to buy during my previous call to a completed wave 4 are in profit. Better not sell though! We are in an extended 5th wave, which means that the length of the whole 5th wave is 1.618 the length of waves 1 and 3 combined. This puts our target at 53.83, meaning there is more upside to come.

There is still time to wait as the price is still within consolidation and could come down a bit more to 19 dollar range.