RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of WLK
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Westlake Chemical Corporation stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)

Buy or Hold candidate since Feb 22, 2024 Gain 8.37% PDF

The Westlake Chemical Corporation stock price gained 1.47% on the last trading day (Wednesday, 27th Mar 2024), rising from $150.15 to $152.35. During the last trading day the stock fluctuated 1.14% from a day low at $150.77 to a day high of $152.49. The price has been going up and down for this period, and there has been a 5.67% gain for the last 2 weeks. Volume fell on the last day by -18 thousand shares and in total, 252 thousand shares were bought and sold for approximately $38.43 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $148.81, a level that may pose a second chance to hit a runner. According to fan-theory $160.58 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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WLK Signals & Forecast

The Westlake Chemical Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $149.94 and $142.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 20, 2024, and so far it has risen 14.71%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Westlake Chemical Corporation stock

Westlake Chemical Corporation finds support from accumulated volume at $146.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.72 between high and low, or 1.14%. For the last week, the stock has had daily average volatility of 1.19%.

Our recommended stop-loss: $147.33 (-3.29%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (WLK) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Westlake Chemical Corporation to open at $151.87, and during the day (based on 14 day Average True Range), to move between $149.09 and $155.61, which gives a possible trading interval of +/-$3.26 (+/-2.14%) up or down from last closing price. If Westlake Chemical Corporation takes out the full calculated possible swing range there will be an estimated 4.28% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $146.79, some $5.56 (3.65%) from the current price of $152.35, our system finds the risk reward attractive.

Is Westlake Chemical Corporation stock A Buy?

Westlake Chemical Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Westlake Chemical Corporation of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$151.87 ( 0.315%) $152.35

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for WLK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 153.59 0.81 %
R2 152.93 0.383 %
R1 152.53 0.116 %
Current price: 152.35
Support S1 151.21 -0.746 %
S2 150.81 -1.01 %
S3 150.15 -1.44 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 152.35
Support S1 146.79 -3.65%
S2 135.48 -11.07%
S3 132.81 -12.83%

WLK Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 16, 2024 Feb 27, 2024 Mar 14, 2024 $0.500 0.351%
2 Nov 10, 2023 Nov 20, 2023 Dec 06, 2023 $0.500 0.386%
3 Aug 14, 2023 Aug 24, 2023 Sep 12, 2023 $0.500 0.402%
4 May 12, 2023 May 22, 2023 Jun 08, 2023 $0.357 0.318%
5 Feb 17, 2023 Feb 28, 2023 Mar 16, 2023 $0.357 0.333%

FAQ

What is the symbol for Westlake Chemical Corporation Stock and on which exchange is it traded?
The symbol for Westlake Chemical Corporation is WLK and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Westlake Chemical Corporation Stock?
Westlake Chemical Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Westlake Chemical Corporation Stock?
Westlake Chemical Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Westlake Chemical Corporation Stock.

What's the current price of Westlake Chemical Corporation Stock?
As of the end of day on the 2024-03-27, the price of an Westlake Chemical Corporation (WLK) share was $152.35.

What is the 52-week high and low for Westlake Chemical Corporation Stock?
The 52-week high for Westlake Chemical Corporation Stock is $152.49 and the 52-week low is $103.28.

What is the market capitalization of Westlake Chemical Corporation Stock?
As of the 2024-03-27, the market capitalization of Westlake Chemical Corporation is 19.252B.

When is the next earnings date for Westlake Chemical Corporation?
The upcoming earnings date for Westlake Chemical Corporation is May 02, 2024.
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About Westlake Chemical Corporation

Westlake Chemical Westlake Corporation manufactures and supplies petrochemicals, polymers, and building products worldwide. It operates through two segments, Performance and Essential Materials; and Housing and Infrastructure Products. The Performance and Essential Materials segment manufactures and markets polyethylene, styrene monomer, ethylene co-products, PVC, VCM, ethylene dichloride chlor-alkali, and chlorinated derivative products. The Housing and Infrastru... WLK Profile

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