The Greedy Trader Weekly Analysis
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Monthly 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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- 5/10/2024 -
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Albemarle Corp (ALB) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal lineTrend support at 129.88
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It was a third positive week after 3 consecutive negative weeks for the Albemarle Corp (ALB). During the week, the ALB gained 1.52 points, or 1.19%, and closed at 129.62 on Friday, May 10, 2024. Weekly volume was -24% 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 47.48 and resistance is at 141.98. 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 price is now at the 16.29% retracement level.

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 uptrend had started on April 22, 2024 at 108.30 and reached 135.75 on May 7, 2024. ALB gained -27.45 points, or -25.35%, in 15 days. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend support (129.88) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.

Daily Technical Indicators: [See ALB daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 and Williams' Percentage Range help.

The daily MACD line is above its signal line since April 26, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.92
Williams' Percentage Range (W%R) 6.70
Strong Overbought
Lane's Stochastic (%D-Slow) 81.78
Overbought
Greed/Fear Indicator (GFI) 81.99
Overbought
Moving Average Converg./Diverg. (MACD) 0.92
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.99
Williams' Percentage Range (W%R) 41.90
Lane's Stochastic (%D-Slow) 46.19
Greed/Fear Indicator (GFI) 52.49
Moving Average Converg./Diverg. (MACD) -11.89
Trading Signals
Description Value Chart
Yearly Trendline Resistance 141.98
Upper Bollinger Band 139.48
Weekly Trendline Resistance 132.96
Daily Stochastic Crossing 131.72
Weekly Trendline Support 129.88
Price 129.62
50 Day Moving Average 123.34
Parabolic System 122.09
20 Day Moving Average 121.05
Weekly Stochastic Crossing 120.09
Lower Bollinger Band 110.00
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 73
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 133.89
High Date 05/09/2024
Low 129.06
Low Date 05/10/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Test Support
Resistance 132.96
Support 129.88
Low 108.30
Low Date 04/22/2024
High 135.75
High Date 05/07/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 133.72
High Date 04/09/2024
Low 108.30
Low Date 04/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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 141.98
Support 47.48
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.