Leading lightweight metals engineering and manufacturing firm Arconic (NYSE:ARNC) fell sharply after reporting earnings on Thursday. The current daily chart pattern is signaling further downside in the near term. This stock is a spin-off from the old Alcoa (NYSE:AA) and does not look particularly healthy at the moment. Traders and investors should note that Thursday's decline wiped out more than one month of gains – in a single trading session. The next major support level for ARNC is in the $22 area, which is where the stock was defended in June 2017 and it should serve as support again when retested.