ALB Short in Short Term, Long in Long TermWatch for downward cross of moving averages, price finds support at the bottom of the channel and continues to rise from there.
Company is experiencing short term weakness along with broad sectors of the US Economy.
Market has been falling on news of new variant. General skittishness paired with portfolios rebalancing for 2021 year end make for extra selling pressure.
Albemarle will benefit from the strong tailwinds of rising commodity prices and increased demand for the elements they mine.
1ALB trade ideas
10/31/21 ALBAlbemarle Corporation ( NYSE:ALB )
Sector: Process Industries (Chemicals: Specialty)
Current Price: $250.51
Breakout price trigger: $252.00
Buy Zone (Top/Bottom Range): $242.00-$230.00
Price Target: $276.00-$279.00 (2nd)
Estimated Duration to Target: 19-22d (2nd)
Contract of Interest: $ALB 12/17/21 290c
Trade price as of publish date: $3.50/contract
$ALB - Could retest 187 to form a CUPALB is in uptrend. If it hits, 187 it could form a CUP.
Target - 187
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
Technical analysis update: ALB (27th May 2021)ALB broke out of its triangle pattern. It prierced above upper bound which is bullish sign. RSI, MACD and Stochastics are also bullish. Our short term price target is 180 USD per share. Our medium price target is 200 USD per share.
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
stagflation play #1forming a new thesis post jobs report & current inflation metrics: I think this economy and most of the world goes into a period of stagflation. Metals mining, hard assets, some chemicals will do okay. The modern version of this will be companies that get off internal combustion. Short in the near term, long after this latest market shakeout.
[45%] (SHORT) ALBAlbemarle is the industry leader in lithium and lithium derivatives, one of the highest growth markets in the specialty chemicals industry. Our unique natural resource position, derivatization capabilities, and technology leadership allow Albemarle to execute an aggressive growth strategy for this business.