Stelian

ALB falling wedge breakout

Long
BATS:ALB   Albemarle Corporation
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A very perfect falling wedge has formed over the passed few weeks and three days ago, the price closed for the first time outside the upper boundary of the falling wedge , indicating a continuation in the upward direction [as expected from a falling wedge pattern]. Today was the first time we saw a full price range that was with a determined direction outside the trendlines , so it is a good place to get in a long position with a target C , expecting about 12% profit. And a stop loss placed on the apex of the falling wedge , just below the $50 psychological support level .

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