06.10.2014 - Ascending trend of Alcoa is over

Alcoa's stock price after an unsuccessful attempt to break through the resistance level near 17.20 began to decline and has broken through the inclined line of support. In addition, the quotes were fixed below this line and now are trying to fix below the local minimum of 15.60, which will confirm the sell signal. It is worth noting that after fixing the price below 15.60 will be completed pattern formation "double top", which indicates a reversal of the upward trend. We recommend to open short positions on the shares of the company with the potential fall to 13.90 and 12.40. Stop should be set above 16.25.

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