This is a classic example of a horizontal resistance that becomes a support after a breakout. Alcoa successfully completed a pullback tot the former resistance which has become a significant support now.
In addition we can draw a upward trendline (support) under two bottoms. This upward trendline can act as support(stoploss) for the uptrend (long positions).
Current RSI level is historically high so we might see a cool-off period after which Alcoa will probably continue its uptrend.
In addition we can draw a upward trendline (support) under two bottoms. This upward trendline can act as support(stoploss) for the uptrend (long positions).
Current RSI level is historically high so we might see a cool-off period after which Alcoa will probably continue its uptrend.
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As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.