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This Chart Shows More Downside For Arconic

Published 10/24/2017, 11:46 AM

Leading lightweight metals engineering and manufacturing firm Arconic (NYSE:ARNC) fell sharply after reporting earnings on Thursday. The current daily chart pattern is signaling further downside in the near term. This stock is a spin-off from the old Alcoa (NYSE:AA) and does not look particularly healthy at the moment. Traders and investors should note that Thursday's decline wiped out more than one month of gains – in a single trading session. The next major support level for ARNC is in the $22 area, which is where the stock was defended in June 2017 and it should serve as support again when retested.

Arconic Inc.

Latest comments

arnc has a sell on it. guess you knew that. divi less than one percent but could go up as it's price get's beat down. would not recommend even looking at this. maybe you hold it, or short it, we'll never know. yawn. whatever.
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