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Albemarle,the lithium stock making headlines

by Tim Straiton
Sunday 15th November 2020

Albemarle (ALB), the lithium mining company reported a massive Q3 earnings improvement, reporting $1.09 per share in profit where Wall Street had expected only $0.78, and $747 million in revenue instead of the $740 million analysts had expected.

The stock closed the week at 122.48 which is quite a handsome performance compared with the March low of 48.89. The technical state of this stock is bullish, however with the 14 day relative strength index at 77% and the current price at 53 percent above the 200 day moving average, caution is recommended.

Our custom trading system is currently long at 96.69 and protected with a protective stop at 102.40.


 

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