Here's Where I Like This Specialty Chemical Play
InTheMoneyStocks.com | Jan 15, 2019 12:37PM ET
Albemarle Corp. (NYSE:ALB) 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 ALB 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.h3 The Long Side/h3
One particular level that I will be watching closely is around $70. That's where the stock surged in May 2016 with volume and looks like a solid level for a long-side swing trade.
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