Tuesday, January 15, 2019 12:01:27 PM
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The stock topped out in November 2017 at $144.99 a share. Since that high pivot, the shares have steadily declined and are now trading at $73.81 a share. Traders and investors should note that stock is now trading near its 2016 break-out area. Often, the institutional money will start to defend stocks when they retest prior break-out points. One particular level that I will be watching closely is going to be the $70.00 area. This is where the stock surged in May 2016 with volume. This looks like a solid level for a long side swing trade in the stock.
Nick Santiago
InTheMoneyStocks
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