Albemarle Stock Forecast
Albemarle stock price up 0.589% on Tuesday
(Updated on May 07, 2024)
The Albemarle stock price gained 0.589% on the last trading day (Tuesday, 7th May 2024), rising from $130.78 to $131.55. 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 4.42% from a day low at $130.01 to a day high of $135.75. The price has risen in 7 of the last 10 days and is up by 15.18% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 655 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $312.42 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Albemarle stock with a 90% probability to be traded between $111.23 and $144.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ALB Signals & Forecast
The Albemarle stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $125.82 and $122.47. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -0.144%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Albemarle stock
On the downside, the stock finds support just below today's level from accumulated volume at $119.59 and $117.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Albemarle finds support just below today's level at $119.59. If this is broken, then the next support from accumulated volume will be at $117.50 and $109.40.
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 $5.74 between high and low, or 4.42%. For the last week, the stock has had daily average volatility of 4.66%.
Our recommended stop-loss: $126.89 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (ALB) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Albemarle Corporation to open at $132.44, and during the day (based on 14 day Average True Range), to move between $125.71 and $137.39, which gives a possible trading interval of +/-$5.84 (+/-4.44%) up or down from last closing price. If Albemarle Corporation takes out the full calculated possible swing range there will be an estimated 8.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $131.69 (0.11%) than the support at $119.59 (9.09%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Albemarle stock to perform well in the short-term period.
Current score: 1.633 Buy Candidate Unchanged
Predicted Opening Price for Albemarle Corporation of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $132.44 ( 0.674%) | $131.55 |
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 | 138.18 | 5.04 % | |
| R2 | 135.98 | 3.37 % | ||
| R1 | 134.63 | 2.34 % | ||
| Current price: | 131.55 | |||
| Support | S1 | 130.24 | -0.99 % | |
| S2 | 128.89 | -2.02 % | ||
| S3 | 126.70 | -3.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 137.85 | 4.79 % | |
| R2 | 133.20 | 1.25 % | ||
| R1 | 131.69 | 0.106 % | ||
| Current price | 131.55 | |||
| Support | S1 | 119.59 | -9.09% | |
| S2 | 117.50 | -10.68% | ||
| S3 | 109.40 | -16.84% |
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
Click here for our free guide on how to buy Albemarle Stock.
