Alcoa is showing signs of weakness

AA has been consolidating around 15.60, which makes it a choppy stock with LH-HL. There is no clear trend at this point. However the signs of the long term trend show weakness, both in the trend and momentum. It has tried to break the magic 18.00 value that would make it skyrocket, but after the double top the next attempt barely reached 15.90, Not enough and actually a pivot point for a downtrend channel.
The support of the 34 ema is holding, but if it is broken the next stop to the downside will be the 0.618 Fib, It will retest that former high. Chances are it will rebound supported by the 89 ema.