Albemarle ALB stock is testing its 200 day moving average as of July 9, 2023. Next week could mark a break above the 200 day moving average. ALB stock is in a technical weak uptrend.
Albemarle Corporation is a global specialty chemicals company that provides solutions for various industries, including energy, electronics, transportation, and consumer goods. The company specializes in developing, manufacturing, and marketing a wide range of chemical products and technologies. Albemarle operates in three primary business segments: 1. Lithium: Albemarle is one of the world’s leading lithium producers, supplying lithium compounds used in manufacturing lithium-ion batteries for electric vehicles, energy storage systems, and various consumer electronics. 2. Bromine Specialties: Albemarle is a major producer of bromine and bromine-based products, which find applications in flame retardants, agricultural chemicals, water purification, and oilfield drilling fluids. 3. Catalysts: Albemarle offers a comprehensive portfolio of catalysts used in various chemical processes, including refining, petrochemical production, and emissions control. These catalysts help improve efficiency, reduce emissions, and enhance product quality. In addition to these primary segments, Albemarle also has a Fine Chemistry Services division that provides custom manufacturing and research services to the pharmaceutical, agricultural, and other specialty chemical industries. Overall, Albemarle Corporation focuses on developing innovative chemical solutions to meet the evolving needs of its customers and to drive sustainable growth in its target markets.
Dark Pool Activity In ALB Stock
Dark pool trading occurred in ALB stock from mid to late June 2023. We think the dark pool trades were mostly buy orders because ALB stock rose following the prints hitting the tape.
Albemarle Tactical Ideas List at Wells Fargo
On July 5, 2023, Wells Fargo added Albemarle to the company’s Q3 2023 Tactical Ideas List while maintaining an Overweight rating and a $250 price target for the stock. Albemarle is anticipated by Wells to post strong Q2 results, with the possibility of an increase in full-year guidance based on improved index pricing. The company has confidence in a recovery in China’s EV demand through the rest of 2023 as a result of recent channel checks at industry conferences.