$ALB - Bullish trend continuation?$ALB finding support on the current trends linear regression mean as well as on the Fib 23.6 level.
Looking for breakout confirmation with solid daily close roughly above $166.50, as it may fall and retest mean going into earnings.
RSI moving just above 50 and would like to see movement above 55 with breakout of 61.8.
Watching for support at about $161, with stop loss at either $154.50 or $151.50 depending on data as we move to those regions.
Risk reward of approx 2.5.
Not bad at all.
ALB trade ideas
The new world will be powered by Albemarle1. Albemarle is one of the largest lithium producers in the world. Besides lithium, it also produces bromine and provides refining solutions and chemistry services for pharmaceutical firms. (src : investingews.com)
2. The U.S. ranked 7th with 1.2% of the world’s lithium production. Nevertheless, the U.S. is home to two of the world’s top-producing lithium companies: Albemarle and Livent. (src : Forbes Dec 13, 2020)
3. The global lithium-ion battery market was valued at USD 36.7 billion in 2019 and is projected to hit USD 129.3 billion by 2027, at a CAGR of 18% from 2020 to 2027. (src : Valuates Reports)
ALBEMARLE CORP Opportunity Hello traders, ALBEMARLE CORP is in a bullish movement a forming doji with pent-up attempt by buyers on a high buying volume. In spite of her she still asks to climb big possibility of breakout the equilbre zone, to go and test the top of the next area and give new orders.
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