If you have a look at the Chart, you can see a big resistance Zone between 17-18$. Three times Alcoa has tested this Level, three times a selloff was the result. Now i see the possibility that Alcoa could test this Niveau again. This szenatio requires Prices above 12,25$. Should Alcoa could not beat this 12$-Level, a drop to the Low (2009) at 9$ respective 5$ can be exspected (worst case)
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Trading below 8.85 perhaps indicates the next downwave