After Yesterday's Rally of 1.98% Shares Could Potentially Pullback
Albemarle (NYSE:ALB) traded in a range yesterday that spanned from a low of $76.75 to a high of $78.19. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $76.43 on volume of 803,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Albemarle have traded between a low of $41.37 and a high of $78.19 and are now at $77.72, which is 88% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.7%.
SmarTrend recommended that subscribers consider buying shares of Albemarle on January 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $51.46. Since that recommendation, shares of Albemarle have risen 48.0%. We continue to monitor ALB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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