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themarketzone
Oct 27, 2014 4:19 PM

Rising Wedge setup Short

NYSE:AA240
Alcoa CorporationNYSE

Description

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Bearish setup in AA as the stock struggles with resistance zone and the 78.6 Fib reversal level.
A potential rising wedge formed in the daily chart. Wedge breakdown could lead to a continuation move lower towards 15.6 (initial target level)
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