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ALB Shares Experience Decline in Value

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Albemarle Corp. shares valued at $114,250 were sold by Mummert Mark Richard on May 14 ’24. At $135.53 per share, Mummert Mark Richard sold 843 shares. The insider’s holdings dropped to 6,802 shares worth approximately $0.64 million following the completion of this transaction.

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Also, Barichivich John Clarence III sold 1,475 shares, netting a total of over 194,951 in proceeds. Following the sale of shares at $132.17 each, the insider now holds 4,743 shares.

Before that, Coleman Kristin M. had added 1,373 shares to its account. In a trade valued at $167,314, the EVP, General Counsel bought Albemarle Corp. shares for $121.86 each. Upon closing the transaction, the insider’s holdings increased to 1,373 shares, worth approximately $0.26 million.

As published in a research note from Scotiabank on May 22, 2024, Albemarle Corp. [ALB] has been rated down from a Sector outperform to a Sector perform and the price target has been revised to $135 from $150. Analysts at Berenberg upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid April. As of April 10, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for ALB. Earlier on March 08, 2024, Vertical Research downgraded its rating. Their new recommendation was “a Hold” for ALB stock which previously was a “a Buy”.

Analyzing ALB Stock Performance

During the last five days, there has been a drop of approximately -16.74%. Over the course of the year, Albemarle Corp. shares have dropped approximately -35.08%. Shares of the company reached a 52-week high of $149.61 on 01/02/24 and a 52-week low of $93.73 on 06/20/24. A 50-day SMA is recorded $120.50, while a 200-day SMA reached $132.36. Nevertheless, trading volume fell to 5.64 million shares from 3.53 million shares the previous day.

Support And Resistance Levels for Albemarle Corp. (ALB)

According to the 24-hour chart, there is a support level at 92.35, which, if violated, would cause prices to drop to 90.91. In the upper region, resistance lies at 96.61. The next price resistance is at 99.43. RSI (Relative Strength Index) is 18.23 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -13.44, which suggests the price will decrease in the coming days. Percent R is at 99.81%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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