ALB breaks below previous session low
Albemarle Corporation (ALB) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (ALB as at Aug 10, 2018):
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.