Albemarle Stock Forecast
Albemarle stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Albemarle stock price gained 0.93% on the last trading day (Wednesday, 24th Apr 2024), rising from $114.21 to $115.27. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.16% from a day low at $112.18 to a day high of $115.73. The price has risen in 6 of the last 10 days but is still down by -9.7% for this period. Volume fell on the last day by -7 thousand shares and in total, 2 million shares were bought and sold for approximately $204.12 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $111.62 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.79% during the next 3 months and, with a 90% probability hold a price between $114.73 and $149.19 at the end of this 3-month period.
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ALB Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $122.16. On a fall, the stock will find some support from the short-term average at $113.46. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -12.50%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Albemarle stock
Albemarle finds support from accumulated volume at $114.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.55 between high and low, or 3.16%. For the last week, the stock has had daily average volatility of 4.09%.
Our recommended stop-loss: $110.50 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (ALB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Albemarle Corporation to open at $114.39, and during the day (based on 14 day Average True Range), to move between $109.58 and $120.96, which gives a possible trading interval of +/-$5.69 (+/-4.93%) up or down from last closing price. If Albemarle Corporation takes out the full calculated possible swing range there will be an estimated 9.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $114.39 (0.76%) than the resistance at $117.50 (1.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Albemarle will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.360. We will update the financials statements for Albemarle, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.55% in the first trading day after earnings release.
Is Albemarle Corporation stock A Buy?
Albemarle holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.115 Hold/Accumulate Upgraded
Predicted Opening Price for Albemarle Corporation of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$114.39 ( 0.761%) | $115.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 117.94 | 2.32 % | |
R2 | 116.59 | 1.14 % | ||
R1 | 115.75 | 0.416 % | ||
Current price: | 115.27 | |||
Support | S1 | 113.04 | -1.94 % | |
S2 | 112.20 | -2.66 % | ||
S3 | 110.84 | -3.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 128.80 | 11.74 % | |
R2 | 119.59 | 3.75 % | ||
R1 | 117.50 | 1.93 % | ||
Current price | 115.27 | |||
Support | S1 | 114.39 | -0.763% | |
S2 | 109.40 | -5.09% | ||
S3 | 108.73 | -5.67% |
ALB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 15, 2024 | Apr 01, 2024 | $0.400 | 0.310% |
2 | Feb 22, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.400 | 0.310% |
3 | Oct 23, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.400 | 0.272% |
4 | Jul 18, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.400 | 0.246% |
5 | May 02, 2023 | Jun 15, 2023 | Oct 02, 2023 | $0.400 | 0.246% |
FAQ
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