Starting from a weekly timeframe a falling wedge nearly 7 months in the making is observed on ALB charts. Notably the wedge formation appears beside rising momentum, drawing the supposition a price bottom could be forming.
Considering trades, the question is whether a breakout is imminent or if the price will break down once more to retest the bottom of the wedge....
Albemarle Corp has been in an Elliott steep ABC correction all the way down from ATH 335 and might have bottomed at 106 forming a cypher like pattern with:
AB = .5 of XA,
C extended 1.18 of XA &
CD retraced .798 of XC, while this is a minor deviation from a classic cypher .786 (due to a wild wick of a red candle on a day when they announced shareholder dilution)...
NYSE:ALB retracing inside the 0.786 and 0.709 zone from it's ATH, price doing accumulation and seemly on the search of change of trend. Massive bullish divergences on the RSI. Price currently inside and over a huge demand zone and touching exactly over the 200 EMA on monthly chart. RSI looks oversold.
Huge fundamentals on this company.
All indicators point to bottom. 5th wave completed, MACD divergence, double bottom, price climbed above 50 days MA. Plus Lithium price stabilized at multi- years low.
NYSE:ALB NYSE:SQM NYSE:LAC AMEX:LIT
In the midst of takeoff... the electric sector is gracefully spreading its wings. 🚀 #ElectricRevolution #SustainableFuture
Analyzing the options chain and the chart patterns of ALB Albemarle Corporation prior to the earnings report this week,
I would consider purchasing the 110usd strike price Puts with
an expiration date of 2024-2-16,
for a premium of approximately $3.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of...
Albemarle is in the midst of one of its biggest retracements in history. It has only fallen this far from its all time high three times in the last thirty years and has had a massive recovery after each of these dips.
Still fundamentally sound, profitable, and trading at some of its lowest multiples ever, it doesn't get much better than this.
Albemarle could be printing an Inverse Head & Shoulder pattern as seen on the Chart.
While this is early, positive trend signals that it might complete this formation.
As we know, this pattern is a Bullish signal for more possible Upside to come.
Smash the Rocket Boost Button should you appreciate my Chart Study.
Regards Graham.
Lithium stocks have experienced a massive sell-off in the past year because of a slow-down in EV adoption and an increasing supply outweighing the demand for lithium. As a result, the rout in lithium has provided investors with a good opportunity to get into some of the major lithium stocks at a discount.
Albemarle Corporation (ALB) is one of the largest players...
Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia.
-World's largest lithium producer.
-Minimal financial stress.
-USD 10 billion...
Albemarle has been beaten up throughout most of 2023, sliding over 60% from its historical high. After such a major decline, the Lithium monster's Price-to-book ratio is nearing a level comparable to its major lows in 2008, 2015, and 2020.
For a company that also has a trailing twelve month earnings yield that is at historical highs, such a selloff seems...
