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Watch for Albemarle Corp to Potentially Pullback After Gaining 2.21% Yesterday

By James Quinn

Albemarle Corp (NYSE:ALB) traded in a range yesterday that spanned from a low of $73.63 to a high of $74.85. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $73.34 on volume of 750,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Albemarle Corp on June 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.41. Since that recommendation, shares of Albemarle Corp have risen 3.7%. We continue to monitor ALB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Albemarle Corp has traded in a range of $63.10 to $108.74 and is now at $74.65, 18% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.7%.

Keywords: rebounders albemarle corp

Ticker(s): ALB