The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/5/2024 -
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Albemarle Corp (ALB) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineBearish Thrusting CandlestickThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Albemarle Corp (ALB). During the week, the ALB dropped -8.29 points, or -6.29%, and closed at 123.45 on Friday, April 5, 2024. Weekly volume was -15% below average.

ALB is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ALB long-term trend chart]
A long-term downtrend had started on November 11, 2022 at 334.55 and reached 106.69 on March 5, 2024. ALB lost 227.86 points, or 68.11%, in 68 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 61.70 and resistance is at 163.20. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See ALB medium-term trend chart]
A medium-term downtrend had started on July 11, 2023 at 247.44 and reached 106.69 on March 5, 2024. ALB lost 140.75 points, or 56.88%, in 34 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (105.15) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ALB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 15, 2023. Use the following link to access a MACD help.

Short-term trend: [See ALB short-term trend chart]
A short-term downtrend had started on April 1, 2024 at 132.80 and reached 119.64 on April 5, 2024. ALB lost 13.16 points, or 9.91%, in 4 days. The price is now at the 28.95% retracement level.

Daily Technical Indicators: [See ALB daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Candlestick pattern: [See ALB candlestick chart pattern]
On Friday the chart has formed a Bearish Thrusting Candlestick pattern. This pattern occurs in a downtrend and it shows a rally failure in a down market. This is a weak continuation pattern. The reliability of the Bearish Thrusting pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Thrusting Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.35
Williams' Percentage Range (W%R) 78.30
Lane's Stochastic (%D-Slow) 55.03
Greed/Fear Indicator (GFI) 42.68
Moving Average Converg./Diverg. (MACD) 0.69
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.30
Williams' Percentage Range (W%R) 71.10
Lane's Stochastic (%D-Slow) 46.19
Greed/Fear Indicator (GFI) 40.99
Moving Average Converg./Diverg. (MACD) -15.28
Trading Signals
Description Value Chart
Upper Bollinger Band 131.88
Daily Stochastic Crossing 124.98
20 Day Moving Average 123.86
Weekly Stochastic Crossing 123.86
Price 123.45
50 Day Moving Average 121.56
Lower Bollinger Band 116.80
Parabolic System 116.20
Quarterly Trendline Support 105.15
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 68
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 132.80
High Date 04/01/2024
Low 119.64
Low Date 04/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 119.64
Low Date 03/27/2024
High 132.80
High Date 04/01/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 106.69
Low Date 03/05/2024
High 132.80
High Date 04/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 96.88
Support 105.15
High 247.44
High Date 07/11/2023
Low 106.69
Low Date 03/05/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 163.20
Support 61.70
High 334.55
High Date 11/11/2022
Low 106.69
Low Date 03/05/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.