Westlake Chemical Partners LP Stock Forecast

Westlake Chemical Partners LP stock price up 0.274% on Wednesday
(Updated on Apr 24, 2024)

WLKP Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.97%. 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). Westlake Chemical Partners LP has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Westlake Chemical Partners LP stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $22.20. On a fall, the stock will find some support from the short-term average at $21.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Westlake Chemical Partners LP stock

Westlake Chemical Partners LP finds support from accumulated volume at $21.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.150 between high and low, or 0.688%. For the last week the stock has had daily average volatility of 0.97%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (WLKP) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Westlake Chemical Partners LP to open at $21.91, and during the day (based on 14 day Average True Range), to move between $21.64 and $22.24, which gives a possible trading interval of +/-$0.305 (+/-1.39%) up or down from last closing price. If Westlake Chemical Partners LP takes out the full calculated possible swing range there will be an estimated 2.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $21.93 (0.05%) than the resistance at $21.98 (0.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Westlake Chemical Partners LP stock A Buy?

Westlake Chemical Partners LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.992 Sell Candidate Unchanged

Predicted Opening Price for Westlake Chemical Partners LP of Thursday, April 25, 2024

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