This chart has turned decisively bearish after failing to hold its recent breakout, with shares falling sharply from the June peak near 83 to close at 59.37. The stock is now trading well below the Ichimoku Cloud, signaling a deterioration in the intermediate-term trend and placing overhead resistance in the 69–72 area. Momentum has weakened significantly, as evidenced by the PPO crossing below its signal line and accelerating lower, while increased selling volume suggests institutional distribution rather than routine profit-taking.

For Alcoa (AA) although the current area around 58–59 may provide near-term support, a breakdown below this level could open the door to further declines toward 55 and potentially the 50–52 zone. Until the stock can stabilize and reclaim the 65–72 region, the technical outlook remains negative and sellers appear to maintain control.

Wishing you the best,

Wendy

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