ALB breaks below previous session low


Albemarle Corp (ALB) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
ALB ends the day on a bearish note closing near the low of the day
ALB finds buyers again around 98.21
ALB breaks below previous session low
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

ALB finished the week 6.36% higher at 98.50 after losing $2.26 (-2.24%) today. Closing below Thursday's low at 98.62, the market confirms its breakout through the previous session's low having traded $0.41 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for ALB
Volatility

Friday's trading range was $2.59 (2.59%), that's slightly above last trading month's daily average range of $2.27. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to a key support level at 96.43. After having been unable to move lower than 98.62 in the prior session, Albemarle Corp found buyers again around the same price level today at 98.21.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Albemarle Corp
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
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