( Yesterday close ) Chart courtesy of stockcharts

Shares of Alcoa are trading down today more than 3% following the bad performance of overall markets. Early in the morning stock was upgraded by Friedman Billings to outperform from market perform. Looking at the daily chart with today session stock is trading in a clear downtrend and probably it will retest the major support at $35. All Indicators are in Bearish territory and and doesn't show recovery signals for now, however pay attention for a possible reaction in $35 level.