Alcoa closed below 8 dollars in June for the first time since 2009, Price now appears to be recovering nicely here off it's recent lows, as price bounced off neckline support yesterday despite being a tough day in the market. Next resistance is at 8.25 and then the yellow downtrend line. Looking for a long target near 8.60.
Looks like I miss identified the real pivot zone. Here is a second look. I like where the price is now. Many times in the recent past price has turned north at this level. I also like the rounding bottom forming. Too noticed nice divergence between price and indicators . All that is needed now is some bullish candles.