The Greedy Trader Weekly Analysis
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Yearly Price vs. Trendline:Broken Support
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 3/15/2024 -
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Albemarle Corp (ALB) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :20 Day Moving Average has crossed above the 50 Day Moving AverageBullish Piercing Line Candlestick
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It was a first positive week for the Albemarle Corp (ALB). During the week, the ALB gained 3.81 points, or 3.22%, and closed at 122.14 on Friday, March 15, 2024. Weekly volume was 17% 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 uptrend had started on March 23, 2020 at 48.89 and reached 334.55 on November 11, 2022. ALB gained -285.66 points, or -584.29%, in 137 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (298.44) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.

Medium-term trend: [See ALB medium-term trend chart]
A medium-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 68.29 and resistance is at 169.79. 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 medium-term trend.

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 March 5, 2024 at 106.69 and reached 128.50 on March 12, 2024. ALB gained -21.81 points, or -20.44%, in 7 days. The price is now at the 29.16% retracement level.

Daily Technical Indicators: [See ALB daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 7, 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.

Candlestick pattern: [See ALB candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.35
Williams' Percentage Range (W%R) 66.30
Lane's Stochastic (%D-Slow) 51.85
Greed/Fear Indicator (GFI) 45.31
Moving Average Converg./Diverg. (MACD) 0.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.72
Williams' Percentage Range (W%R) 73.70
Lane's Stochastic (%D-Slow) 34.67
Greed/Fear Indicator (GFI) 35.29
Moving Average Converg./Diverg. (MACD) -17.27
Trading Signals
Description Value Chart
Upper Bollinger Band 138.26
Parabolic System 134.81
20 Day Moving Average 123.86
50 Day Moving Average 122.21
Price 122.14
Weekly Stochastic Crossing 120.97
Daily Stochastic Crossing 119.83
Monthly Trendline Resistance 108.21
Lower Bollinger Band 107.62
Monthly Trendline Support 106.13
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 42
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 128.50
High Date 03/12/2024
Low 116.77
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 106.69
Low Date 03/05/2024
High 128.50
High Date 03/12/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 108.21
Support 106.13
High 247.44
High Date 07/11/2023
Low 106.69
Low Date 03/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 169.79
Support 68.29
High 334.55
High Date 11/11/2022
Low 106.69
Low Date 03/05/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 393.44
Support 298.44
Low 48.89
Low Date 03/23/2020
High 334.55
High Date 11/11/2022
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.