Alcoa: Already Reversed?

A good short candidate along with Google( tradingview.com/v/Qec8kk2J/ )

• The rally hit a long term resistance at 17.75 before stalling
  
• After hitting that resistance, a head and shoulders formation completed on the weekly chart
  
• The price broken out below the neckline of the head and shoulders confirming the pattern
  
• The price broken below the 52-week Simple moving average
  
• A Minor upside pullback towards the shaded area could provide a better shorting level in terms of risk-reward
  
• Main target is at 10.00 major level
  
• Stability back above 16.00 may be the invalidation of this setup
  

Good luck...
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