Keep an eye on Albemarle (ALB).

With electric vehicle demand accelerating again, and lithium prices bottoming out, ALB could push aggressive higher.

At the moment, it’s again challenging support dating back to February, where it tends to bounce. In February, for example, it bounced from about $110 to $142.50. In March it bounced from about $110 to $132.50. In April, it bounced from about $110 to a high of $137.50. 

In addition, ALB just declared a 40-cent quarterly dividend, which is payable July 1 to shareholders of record as of June 14. Earnings have been as solid as possible with plummeting lithium prices. In its first quarter, ALB earnings per share of 26 cents beat by three cents. Revenue of $1.36 billion, while down 47.3% year over year, was in-line with estimates.

Also, according to the IEA, the recent pullback in lithium deterred investment needed to meet demand, “which is set to soar as many nations try to phase out sales of new internal combustion engine cars in the next decade,” says France24.com.