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Advanced TA SearchArchive - 5/10/2024 - Sign In to see current Signals. |
Albemarle Corp (ALB) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | 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.
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