The Greedy Trader Weekly Analysis
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Weekly W%R:> 90
Number of records: 10
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 5/31/2024 -
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Albemarle Corp (ALB) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Price has crossed below the 50 Day Moving AverageBroken trend resistance lineStochastic signal line moved above oversold areaThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Albemarle Corp (ALB). During the week, the ALB dropped -5.00 points, or -3.92%, and closed at 122.59 on Friday, May 31, 2024. Weekly volume was -15% 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 trend support level is at 88.47 and resistance is at 127.20. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.

Medium-term trend: [See ALB medium-term trend chart]
A medium-term uptrend had started on March 5, 2024 at 106.69 and reached 137.50 on May 15, 2024. ALB gained -30.81 points, or -28.88%, in 10 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 109.67 and resistance is at 139.10. 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge 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. 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 downtrend had started on May 15, 2024 at 137.50 and reached 120.21 on May 31, 2024. ALB lost 17.29 points, or 12.57%, in 16 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (118.75) 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 short-term trend.

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 above oversold area. Such crossover is considered a bullish 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 below its signal line since May 20, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.27
Williams' Percentage Range (W%R) 77.00
Lane's Stochastic (%D-Slow) 21.02
Greed/Fear Indicator (GFI) 28.10
Moving Average Converg./Diverg. (MACD) 1.00
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.50
Williams' Percentage Range (W%R) 52.00
Lane's Stochastic (%D-Slow) 64.00
Greed/Fear Indicator (GFI) 54.25
Moving Average Converg./Diverg. (MACD) -9.64
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 139.10
Upper Bollinger Band 132.91
Parabolic System 131.19
Weekly Stochastic Crossing 128.71
20 Day Moving Average 128.51
Yearly Trendline Resistance 127.20
50 Day Moving Average 124.43
Price 122.59
Daily Stochastic Crossing 122.11
Monthly Trendline Resistance 119.28
Weekly Trendline Resistance 119.28
Lower Bollinger Band 119.16
Weekly Trendline Support 118.75
Monthly Trendline Support 118.75
Quarterly Trendline Support 109.67
Sector and Industry
Description Name Rank
Sector Materials 11
Industry Specialty Chemicals 66
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 129.50
High Date 05/28/2024
Low 120.21
Low Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 119.28
Support 118.75
High 137.50
High Date 05/15/2024
Low 120.21
Low Date 05/31/2024
Description Value
Direction Up
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 119.28
Support 118.75
Low 108.30
Low Date 04/22/2024
High 137.50
High Date 05/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 139.10
Support 109.67
Low 106.69
Low Date 03/05/2024
High 137.50
High Date 05/15/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 127.20
Support 88.47
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.