What we see is a Symmetrical triangle, which can continue or reverse the price trend.
So be aware of;
1# the support at 60$, if it breaks, likely scenario is we continue the trend towards 40.
2# RSI, showing a bullish divergence. But needs to break through 50 to be confirmed.
3# Breakout, wait for it to happen and go long on the retest. Enter to early and you could get trapped.
News;
# Multiple Downgrades through November.
# Price has been falling because of oversupply, more than the EV market could handle
# CEO of Albermarle is positive and expects robust long-term demand for the electric vehicle battery mineral.
# Q3 more insider selling than buying
# Q3 and Q4 has more institutional buying than selling, inst.ownership is 92%
Relevant;
# Earnings February 19th 2020
# Consensus Analyst price target is $78.73
So be aware of;
1# the support at 60$, if it breaks, likely scenario is we continue the trend towards 40.
2# RSI, showing a bullish divergence. But needs to break through 50 to be confirmed.
3# Breakout, wait for it to happen and go long on the retest. Enter to early and you could get trapped.
News;
# Multiple Downgrades through November.
# Price has been falling because of oversupply, more than the EV market could handle
# CEO of Albermarle is positive and expects robust long-term demand for the electric vehicle battery mineral.
# Q3 more insider selling than buying
# Q3 and Q4 has more institutional buying than selling, inst.ownership is 92%
Relevant;
# Earnings February 19th 2020
# Consensus Analyst price target is $78.73