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Downtrend Broken Resist.Archive
- 11/8/2024 -
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Albemarle Corp (ALB) Technical Analysis
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| Summary:
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| | It was a second positive week after 3 consecutive negative weeks for the Albemarle Corp (ALB). During the week, the ALB gained 2.56 points, or 2.61%, and closed at 100.80 on Friday, November 8, 2024. Weekly volume was -13% below average.
 Long-term trend: [See ALB long-term trend chart]
A long-term downtrend had started on November 11, 2022 at 334.55 and reached 71.97 on August 14, 2024. ALB lost 262.58 points, or 78.49%, in 91 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (53.51) 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 long-term trend.
 Medium-term trend: [See ALB medium-term trend chart]
A medium-term uptrend had started on October 22, 2024 at 92.94 and reached 103.90 on November 7, 2024. ALB gained -10.96 points, or -11.79%, in 2 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 93.37 and resistance is at 105.88. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ALB weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 13, 2024. This is an indication that the medium-term trend is up. 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 November 6, 2024 at 93.30 and reached 103.90 on November 7, 2024. ALB gained -10.60 points, or -11.36%, in 1 days. The price is now at the 29.25% 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 above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The distance between the Bollinger Bands (9.21%) is close to one year low (10.99%). It is 59.52% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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