The Greedy Trader Weekly Analysis
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Albemarle Corp (ALB)

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic bearish divergenceBroken trend resistance line
Daily :Lane's Stochastic is overboughtRelative Strength Index and Williams' Percentage Range are strongly overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a first positive week for the Albemarle Corp (ALB). During the week, the ALB gained 36.58 points, or 24.80%, and closed at 184.10 on Friday, January 8, 2021. Weekly volume was 83% above 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 8, 2017 at 144.99 and reached 48.89 on March 23, 2020. ALB lost 96.10 points, or 66.28%, in 123 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (33.30) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ALB may retest the broken resistance line. It is considered to be a support line now. 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 long-term trend.

Medium-term trend: [See ALB medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 48.89 and reached 187.25 on January 7, 2021. ALB gained -138.36 points, or -283.00%, in 41 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (106.71) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ALB short-term trend chart]
A short-term uptrend had started on December 29, 2020 at 144.74 and reached 187.25 on January 7, 2021. ALB gained -42.51 points, or -29.37%, in 9 days. The price is now at the 7.41% retracement level.

Daily Technical Indicators: [See ALB daily technical indicators chart]
Daily Lane's Stochastic is overbought while Relative Strength Index and Williams' Percentage Range are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Relative Strength Index and Williams' Percentage Range.

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

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.51
Strong Overbought
Williams' Percentage Range (W%R) 5.20
Strong Overbought
Lane's Stochastic (%D-Slow) 87.87
Overbought
Greed/Fear Indicator (GFI) 91.06
Strong Overbought
Moving Average Converg./Diverg. (MACD) 8.47
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 92.30
Strong Overbought
Williams' Percentage Range (W%R) 2.50
Strong Overbought
Lane's Stochastic (%D-Slow) 92.02
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 88.28
Overbought
Moving Average Converg./Diverg. (MACD) 13.05
Trading Signals
Description Value Chart
Price 184.10
Daily Stochastic Crossing 182.86
Upper Bollinger Band 182.74
Weekly Stochastic Crossing 180.93
Parabolic System 160.85
20 Day Moving Average 150.21
50 Day Moving Average 133.35
Lower Bollinger Band 124.18
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 85
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 144.74
Low Date 12/29/2020
High 187.25
High Date 01/07/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 134.15
Low Date 12/17/2020
High 187.25
High Date 01/07/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 79.06
Low Date 09/24/2020
High 187.25
High Date 01/07/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 121.11
Support 106.71
Low 48.89
Low Date 03/23/2020
High 187.25
High Date 01/07/2021
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 21.59
Support 33.30
High 144.99
High Date 11/08/2017
Low 48.89
Low Date 03/23/2020
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.

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