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Alcoa: Upside Target Revealed

Published 07/14/2014, 03:50 PM
Updated 05/14/2017, 06:45 AM

Alcoa Inc. (NYSE:AA) has been ripping higher in 2014, surging over 50% on the year. Just since October 2013, the stock is up over 100%. Many investors are beginning to speculate on a major top in the stock.

Technical Outlook

Based on technical analysis, Alcoa has the potential to rally to $18.10. That level is a high reward sell signal that can ultimately be shorted when it hits. One thing to note is that Alcoa has a major double top, spanning back to early 2011. The level is $18.10. Should Alcoa reach that level, it becomes a solid shorting opportunity.

Alcoa

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