Albemarle (ALB - Get Report) is a developer, manufacturer and marketer of specialty chemicals, which meet customer needs across a range of end markets, including the petroleum refining, consumer electronics, plastics/packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food-safety and custom chemistry services markets. This stock is trading up 2.2% at $55.11 in recent trading.
Today's Volume: 2 millionAverage Volume: 929,375 Volume % Change: 196% Shares of ALB are moving modestly higher despite the fact that the company said that its third-quarter net income dropped 14.5% and warned that the fourth quarter will be even more difficult. >>5 Big Stocks to Trade for Gains From a technical perspective, ALB is bouncing higher here right off some near-term support at $52 with above-average volume. This move has started to push ALB into breakout territory above some near-term overhead resistance levels at $54.63 to $54.64, and above its 50-day at $55.14. Traders should look to play the next major breakout for ALB. That trade will hit once ALB manages to clear some more overhead resistance at $56.83 with high volume. Traders should now look for long-biased trades in ALB as long as its trending above its 50-day, and then once it sustains a move or close above $56.83 with volume that hits near or above 929,375 shares. If that breakout triggers soon, then ALB will setup to re-test or possibly take out its next major overhead resistance levels at $9.70 to $61.23.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts