Alcoa Inc. (NYSE:AA) has been ripping higher in 2014, surging over 50% on the year. Just since October 2013, the stock is up over 100%. Many investors are beginning to speculate on a major top in the stock.
Technical Outlook
Based on technical analysis, Alcoa has the potential to rally to $18.10. That level is a high reward sell signal that can ultimately be shorted when it hits. One thing to note is that Alcoa has a major double top, spanning back to early 2011. The level is $18.10. Should Alcoa reach that level, it becomes a solid shorting opportunity.