In the first quarter of 2025, Albemarle reported a revenue decline of more than 20%, which was driven by a 34% decrease in lithium prices. The stock has plummeted from the November 2022 high of $334 and currently trades at 59.83, way below its falling 40 week moving average of $84.13. The 14 week relative strength index moved into strongly oversold territory in mid April at 25% and is currently at 35%. The weekly MACD-V indicator at minus 101.19 suggests that downside pressure will ease. The 78.6% Fibonacci downside projection target based on the 334.54 to 170.56 range comes in at $41.70 and could attract considerable buying interest in a company that has a strong balance sheet, has $1.5 billion in cash and in addition $1.5 billion in credit lines.
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