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- 9/22/2023 -
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Albemarle Corp (ALB) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Albemarle Corp (ALB). During the week, the ALB dropped -15.63 points, or -8.50%, and closed at 168.21 on Friday, September 22, 2023. Weekly volume was -8% below average.
ALB is a member of Materials Sector. Materials is the second 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 (268.56) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ALB may retest the broken support line. It is considered to be a resistance line now. 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 167.67 on September 21, 2023. ALB lost 166.88 points, or 49.88%, in 44 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 119.64 and resistance is at 223.56. 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 Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since August 11, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 September 5, 2023 at 203.62 and reached 167.67 on September 21, 2023. ALB lost 35.95 points, or 17.66%, in 16 days. Price is near the trend low.
 Daily Technical Indicators: [See ALB daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Relative Strength Index and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Relative Strength Index and Lane's Stochastic. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since September 12, 2023. This is an indication that the short-term trend is down.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Materials |
8 |
| Industry |
Specialty Chemicals |
74 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
189.19 |
| High Date |
09/11/2023 |
| Low |
167.67 |
| Low Date |
09/21/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
203.62 |
| High Date |
09/05/2023 |
| Low |
167.67 |
| Low Date |
09/21/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
247.44 |
| High Date |
07/11/2023 |
| Low |
167.67 |
| Low Date |
09/21/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Valid |
| Resistance |
223.56 |
| Support |
119.64 |
| High |
334.55 |
| High Date |
11/11/2022 |
| Low |
167.67 |
| Low Date |
09/21/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
372.35 |
| Support |
268.56 |
| Low |
48.89 |
| Low Date |
03/23/2020 |
| High |
334.55 |
| High Date |
11/11/2022 |
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