The Greedy Trader Weekly Analysis
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Uptrend Support

Uptrend Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

Archive
- 2/16/2024 -
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Albemarle Corp (ALB) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :The price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Albemarle Corp (ALB). During the week, the ALB gained 6.81 points, or 5.88%, and closed at 122.59 on Friday, February 16, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 76% above average.

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 (293.71) 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 108.39 on February 5, 2024. ALB lost 226.16 points, or 67.60%, in 64 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 77.07 and resistance is at 178.73. 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 Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 above its signal line since December 15, 2023. The distance between MACD and the signal line is low, but getting bigger. 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 February 5, 2024 at 108.39 and reached 125.84 on February 16, 2024. ALB gained -17.45 points, or -16.10%, in 11 days. The price is now at the 18.62% retracement level.

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

The daily MACD line is above its signal line since February 8, 2024. This is an indication that the short-term trend is up.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

During the last week, the price has moved above 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.39
Williams' Percentage Range (W%R) 44.40
Lane's Stochastic (%D-Slow) 57.70
Greed/Fear Indicator (GFI) 54.23
Moving Average Converg./Diverg. (MACD) -4.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.04
Williams' Percentage Range (W%R) 84.80
Oversold
Lane's Stochastic (%D-Slow) 17.48
Oversold
Greed/Fear Indicator (GFI) 26.92
Moving Average Converg./Diverg. (MACD) -19.13
Trading Signals
Description Value Chart
50 Day Moving Average 128.61
Upper Bollinger Band 126.74
Price 122.59
Daily Stochastic Crossing 118.74
20 Day Moving Average 117.31
Weekly Stochastic Crossing 115.77
Lower Bollinger Band 111.12
Parabolic System 110.45
Sector and Industry
Description Name Rank
Sector Materials 5
Industry Specialty Chemicals 38
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 108.39
Low Date 02/05/2024
High 125.84
High Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 153.54
High Date 12/22/2023
Low 108.39
Low Date 02/05/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 247.44
High Date 07/11/2023
Low 108.39
Low Date 02/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 178.73
Support 77.07
High 334.55
High Date 11/11/2022
Low 108.39
Low Date 02/05/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 390.10
Support 293.71
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.