• Return to Headlines

Albemarle Corp Looks to Continue to Trade Below its Annual-Low Share Price Today

By Shiri Gupta

Albemarle Corp (NYSE:ALB) traded today at a new 52-week low of $71.87. This new low was reached on approximately average trading volume as 989,000 shares traded hands, while the average 30-day volume is approximately 1.4 million shares.

Over the past year, Albemarle Corphas traded in a range of $71.87 to $108.74 and are now at $71.87. The 200-day and 50-day moving averages have moved 0.33% lower and 0.96% lower over the past week, respectively.

Albemarle Corp has overhead space with shares priced $71.87, or 41.8% below the average consensus analyst price target of $123.50. The stock should find initial resistance at its 50-day moving average (MA) of $82.99 and further resistance at its 200-day MA of $89.41.

Albemarle Corporation produces specialty and fine chemicals. The Company's chemicals are additives to or intermediates for plastics, polymers and elastomers, cleaning products, agricultural compounds, pharmaceuticals, photographic chemicals, drilling compounds, and biocides. Albemarle produces the majority of its products in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Albemarle Corp on March 7th, 2019 by issuing a Downtrend alert when the shares were trading at $84.98. Since that call, shares of Albemarle Corp have fallen 10.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows albemarle corp

Ticker(s): ALB