WESTLAKE CORP (WLK) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:WLK • US9604131022
We assign a technical rating of 9 out of 10 to WLK. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, WLK is showing a nice and steady performance.
- The long and short term trends are both positive. This is looking good!
- WLK is one of the better performing stocks in the Chemicals industry, it outperforms 73% of 83 stocks in the same industry.
- WLK is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so WLK is lagging the market slightly.
- In the last month WLK has a been trading in the 77.58 - 102.98 range, which is quite wide. It is currently trading near the high of this range.
- WLK has an average volume of 1535510 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, WLK did better than 81% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
Although WLK has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
74.68
2 important support areas can be observed.
- A support zone ranging from 83.09 to 83.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @75.43 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for WLK is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WLK is up. |
| ChartMill Relative Strength | 81.78 | POSITIVE | WLK has a high relative strength, it outperformed 81.78% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WLK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WLK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WLK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 71.65 | OVERBOUGHT | The high RSI value suggests WLK may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.19 | POSITIVE | The MACD value suggests WLK has a positive trend. |
| Stochastics (14,3) | 92.35 | OVERBOUGHT | The high Stochastics value suggests WLK may be overbought. |
| Average True Range in percent/ATR (20) | 4.22 | MEDIUM VOLATILITY | The ATR as a percentage value for WLK suggests some volalility. |
| Average Directional Index/ADX (14) | 34.06 | POSITIVE | The high ADX value value for WLK suggests a strong trend. |
100.36
+1.24 (+1.25%)
WESTLAKE CORP / WLK FAQ
What is the technical rating for WLK stock?
ChartMill assigns a technical rating of 9 / 10 to WLK.
What is the current trend direction of WESTLAKE CORP (WLK) stock?
The current trend direction for WESTLAKE CORP (WLK) is Bullish.
What is the RSI signal for WLK stock?
WESTLAKE CORP (WLK) has an RSI value of 71.6529. This indicates that the stock is currently overbought.
What is the short term momentum for WLK stock?
The short term momentum for WESTLAKE CORP (WLK) is positive.
What is the support and resistance level for WLK stock?
WESTLAKE CORP (WLK) has a support level at 83.22. Check the full technical report for our detailed analysis of WLK support and resistance levels.