Something is amiss with aluminum producer Alcoa
Corp and I will tell you exactly what it is. After reporting solid earnings
at 52 week highs, Alcoa
Corp opened higher and collapsed. The stock put in an ugly reversal which should scare any investor who is long the stock. Over the last few days, Alcoa
has been unable to catch a bid. Instead wallowing sideways. The inability of it to surge higher and retest the recent highs give credence to analysts signaling caution. This stock chart pattern may be setting up to signal Alcoa
is headed sharply lower. Perhaps as low as $32.00. Considering the current price is $36.45, it would be a dramatic fall. Stay tuned as there may be a short trade setup here.