first time trader.
1- watched kaz vid
2 - read mootley fool.
I came across this chart of ALB.
I see there might be a pattern repeating it self.
agree or not?
MACD is closing in
RSI looks good.
From Insider Monkey :Albemarle Corporation (NYSE:ALB) has seen an increase in hedge fund sentiment recently. ALB was in 23 hedge funds' portfolios at the end of the fourth quarter of 2019. There were 18 hedge funds in our database with ALB holdings at the end of the previous quarter. Our calculations also showed that ALB isn't among the 30 most popular stocks...
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Though (X) wave does not provide many clues to call a bottom, the broader market does. Also, look at this gorgeous falling wedge on RSI! I bet it means something.
This market is in a liquidity driven panic. $ALB has a great future that others will see once they get their heads on straight again. Like the potential Head and Shoulder bottom.
Looking for possible breakout trade with entry @ $93.00 with upside target $108 to fibonacci golden pocket.
P/E ratio 17
17% short interest could ignite quiet a rally
Very bullish basing pattern formed.
Long term downtrend break.
RSI strong
Price now stuck between 7&12 Moving average support and the descending 200MA.
Possible entry on break above Fibonacci .382 level @ $94.00
Target price $111.34
Stop loss $88.24
ALB has just recently moved out from under two downtrend lines and is just above pivot at $71.
Rising uptrend line off of Aug $59 lows now gives support at the $70 level as well.
First attempt to break out from 2 year downtrend will test first resistance at $76 level.
Weekly RSI is in a rising uptrend with reading just above 53 level as well.
BUYING now in the...
Entry level $77 = Target price $91 = Stop loss $73
Levels of Interest = $92.61
P/E ratio = 14
Short interest = 15.28%
Average Recommendation: oVERWEIGHT Average Target Price:$75.32
11 BUY
01 OVERWEIGHT
07 HOLD
03 SELL
Company profile
Albemarle Corp. is a specialty company, which engages in developing, manufacturing, and marketing of chemicals...
Golden Cross on daily 20 MA crosses 200 MA
Currently in daily consolidation, starting to breakout again on daily
Price moved above 200 MA, 200 MA is still pointing upwards on weekly
First PT 91.40
Second PT 110
Stoploss 69.0
What we see is a Symmetrical triangle, which can continue or reverse the price trend.
So be aware of;
1# the support at 60$, if it breaks, likely scenario is we continue the trend towards 40.
2# RSI, showing a bullish divergence. But needs to break through 50 to be confirmed.
3# Breakout, wait for it to happen and go long on the retest. Enter to early and you...
