Albemarle Stock Forecast
Albemarle stock downgraded to Sell Candidate
(Updated on Mar 31, 2023)
The Albemarle stock price fell by -0.629% on the last day (Friday, 31st Mar 2023) from $222.44 to $221.04. During the last trading day the stock fluctuated 2.44% from a day low at $219.22 to a day high of $224.57. The price has been going up and down for this period, and there has been a 6.02% gain for the last 2 weeks. Volume has increased on the last day by 541 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $405.48 million.
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The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.51% during the next 3 months and, with a 90% probability hold a price between $184.43 and $245.63 at the end of this 3-month period.
ALB Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 17, 2023, and so far it has risen 6.02%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Albemarle stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $239.66. On a fall, the stock will find some support from the short-term average at $219.77. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Albemarle stock
Albemarle finds support from accumulated volume at $214.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $5.35 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALB) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Albemarle Corporation to open at $221.61, and during the day (based on 14 day Average True Range), to move between $211.68 and $230.40, which gives a possible trading interval of +/-$9.36 (+/-4.23%) up or down from last closing price. If Albemarle Corporation takes out the full calculated possible swing range there will be an estimated 8.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $225.13 (1.85%) than the support at $214.50 (2.96%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Albemarle Corporation stock A Buy?
Albemarle holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.716 Open Broker Account
Sell Candidate DowngradedPredicted Opening Price for Albemarle Corporation of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $221.61 | $221.04 (Undervalued) |
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Trading levels for ALB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 226.96 | 2.68 % | |
| R2 | 224.92 | 1.75 % | ||
| R1 | 223.65 | 1.18 % | ||
| Current price: | 221.04 | |||
| Support | S1 | 219.57 | -0.667 % | |
| S2 | 218.30 | -1.24 % | ||
| S3 | 216.26 | -2.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 258.01 | 16.73 % | |
| R2 | 241.96 | 9.46 % | ||
| R1 | 225.13 | 1.85 % | ||
| Current price | 221.04 | |||
| Support | S1 | 214.50 | -2.96% | |
| S2 | 214.40 | -3.00% | ||
| S3 | 208.49 | -5.68% |
FAQ
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About Albemarle Corporation
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, hig... ALB Profile
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