Chemical company Albemarle Corp. $ALB has been in consolidation mode throughout 2018 after sliding at the end of 2017. Essentially, it was in correction mode at the end of 2017 and beginning of 2018. But since April, we can see that price has flattened. In November, we are seeing price rally and break above some key resistance. This might be a bullish continuation breakout.ALB Daily chart(click to enlarge)Bullish Breakout:- On the daily chart we can see that price has been in sideways consolidation since March/April.- However, the rally last week broke above a falling trendline resistance and cracked the flat consolidation resistance.- It is not a strong breakout yet and price retreated from $108.- At this point, a hold above $100 would be a strong sign that the market is anchoring into a bullish mode. - I would even consider a hold above $98 followed by a return above $100 to be a bullish sign because in this scenario price would be respecting the cluster of 200-, 100-, and 50-day simple moving averages (SMAs) as support. This would be a bullish "slingshot" signal.Upside:- I think there could be a 20%-25% upside from this $100 area. - In other words, I think there will be resistance in the $120-$125 area. - The market might not be completely done with consolidation yet, so I would not be surprised if price action continued to chop it up a bit. - This caution is based on general market risk. In terms of ALB itself, I think there could be upside back to the $140-$145 highs on the year. - When we look at the weekly chart, we can see that the prevailing bullish trend is strong.- We can also see that the breakout is not there yet. - At the end of the day, we might be slightly early to call it a bullish continuation breakout, but I think there will be upside towards $120 and then $140-$145 as long as price holds above $98. ALB Weekly Chart(click to enlarge)