The Greedy Trader Weekly Analysis
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Daily RSI:< 30
Number of records: 10
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 5/17/2024 -
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Albemarle Corp (ALB) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Stochastic signal line moved below overbought area20 Day Moving Average has crossed above the 50 Day Moving AveragePrice is near the Fibonacci 38.2% retracement level
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It was a fourth positive week after 3 consecutive negative weeks for the Albemarle Corp (ALB). During the week, the ALB gained 1.50 points, or 1.16%, and closed at 131.12 on Friday, May 17, 2024. Weekly volume was -13% 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 Wedge chart pattern. The downtrend resistance line (95.97) 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 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 17.36% 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 downtrend had started on May 15, 2024 at 137.50 and reached 126.75 on May 16, 2024. ALB lost 10.75 points, or 7.82%, in 1 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ALB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since April 26, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.03
Williams' Percentage Range (W%R) 26.80
Lane's Stochastic (%D-Slow) 48.44
Greed/Fear Indicator (GFI) 59.22
Moving Average Converg./Diverg. (MACD) 2.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.98
Williams' Percentage Range (W%R) 50.60
Lane's Stochastic (%D-Slow) 50.15
Greed/Fear Indicator (GFI) 50.77
Moving Average Converg./Diverg. (MACD) -11.08
Trading Signals
Description Value Chart
Upper Bollinger Band 141.34
Daily Stochastic Crossing 131.13
Price 131.12
Parabolic System 128.36
20 Day Moving Average 125.14
Weekly Stochastic Crossing 125.03
50 Day Moving Average 123.89
Yearly Trendline Resistance 119.68
Lower Bollinger Band 112.76
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 63
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 126.75
Low Date 05/16/2024
High 134.75
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 137.50
High Date 05/15/2024
Low 126.75
Low Date 05/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 108.30
Low Date 04/22/2024
High 137.50
High Date 05/15/2024
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 Wedge
Status Broken Resistance
Resistance 119.68
Support 95.97
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.