Albemarle Corporation (NYSE:ALB) stock was last seen down 6.4% at $114.79, despite today announcing a multi-year agreement with the BMW Group for lithium for hydroxide supplies. The shares are down 55.2% over the last 12 months, and last week ran into resistance from a trendline that has historically generated headwinds.

Albemarle stock is within one standard deviation of its 80-day moving average. Per Schaeffer’s Senior Quantitative Analyst Rocky White’s data, the equity saw five similar signals in the last three years, defined for this study as having traded south of this trendline 80% of the time over the last two months, and in eight of the last 10 trading days.

Just one month later after 80% of those instances, the security was lower, averaging a 12% dip. A comparable move from its current perch would place ALB just over $100 for the first time since November 2020.

Those looking to speculate on ALB’s next moves should consider options. The stock’s  Schaeffer’s Volatility Scorecard (SVS) of 97 out of 100 means that the equity usually outperforms volatility expectations.