Westlake Chemical Corporation Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of WLK
| Stock Analysis |
|
| Risk Assessment |
|
| Trading Strategy |
|
Red day on Tuesday for Westlake Chemical Corporation stock after losing 2.32%
(Updated on Oct 08, 2024)
Sell candidate since Oct 07, 2024
Loss -2.32%
The Westlake Chemical Corporation stock price fell by -2.32% on the last day (Tuesday, 8th Oct 2024) from $145.52 to $142.15. During the last trading day the stock fluctuated 2.00% from a day low at $141.82 to a day high of $144.66. The price has fallen in 6 of the last 10 days and is down by -3.91% for this period. Volume has increased on the last day by 38 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 412 thousand shares were bought and sold for approximately $58.61 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Westlake Chemical Corporation stock with a 90% probability to be traded between $133.47 and $150.94 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.
WLK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Westlake Chemical Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $146.98 and $143.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 30, 2024, and so far it has fallen -5.42%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Monday, September 30, 2024 and based on theory for this formation the price should fall by -9.27% to $128.97 within 25 trading days (Monday, November 04, 2024) since signal was issued.
Support, Risk & Stop-loss for Westlake Chemical Corporation stock
Westlake Chemical Corporation finds support from accumulated volume at $136.44 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 $2.84 between high and low, or 2.00%. For the last week, the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WLK) For The Upcoming Trading Day Of Wednesday 9th
For the upcoming trading day on Wednesday, 9th we expect Westlake Chemical Corporation to open at $142.88, and during the day (based on 14 day Average True Range), to move between $138.72 and $145.58, which gives a possible trading interval of +/-$3.43 (+/-2.41%) up or down from last closing price. If Westlake Chemical Corporation takes out the full calculated possible swing range there will be an estimated 4.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $144.01 (1.31%) than the support at $136.44 (4.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Westlake Chemical Corporation stock A Buy?
Westlake Chemical Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score:
-2.347
Sell Candidate
Unchanged
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
Predicted Fair Opening Price
Predicted fair opening price on October 9, 2024 - $142.88 ( 0.510%). 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 | |
|---|---|---|
| R3 | 145.71 | 2.50% |
| R2 | 144.63 | 1.74% |
| R1 | 143.96 | 1.27% |
| Price | 142.15 | |
| S1 | 141.79 | -0.252% |
| S2 | 141.12 | -0.722% |
| S3 | 140.04 | -1.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 146.00 | 2.71% |
| R2 | 145.40 | 2.29% |
| R1 | 144.01 | 1.31% |
| Price | 142.15 | |
| S1 | 136.44 | -4.02% |
| S2 | 135.01 | -5.02% |
| S3 | 133.50 | -6.09% |
WLK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 09, 2024 | Aug 20, 2024 | Sep 05, 2024 | $0.525 | 0.385% |
| 2 | May 10, 2024 | May 20, 2024 | Jun 06, 2024 | $0.500 | 0.324% |
| 3 | Feb 16, 2024 | Feb 27, 2024 | Mar 14, 2024 | $0.500 | 0.351% |
| 4 | Nov 10, 2023 | Nov 20, 2023 | Dec 06, 2023 | $0.500 | 0.386% |
| 5 | Aug 14, 2023 | Aug 24, 2023 | Sep 12, 2023 | $0.500 | 0.402% |
FAQ
Click here for our free guide on how to buy Westlake Chemical Corporation Stock.
