WESTLAKE CORP (WLK) Technical Analysis
NYSE:WLK • US9604131022
Current stock price
WLK Technical Rating and Analysis
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.
- Both the short term and long term trends are positive. This is a very positive sign.
- WLK is part of the Chemicals industry. There are 83 other stocks in this industry. WLK outperforms 74% of them.
- WLK is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so WLK is performing more or less in line with the market.
- WLK has an average volume of 1437450 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 86% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
- In the last month WLK has a been trading in the 91.76 - 116.46 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
WLK Weekly and Daily overview Charts
WLK Setup Rating and Analysis
Besides having an excellent technical rating, WLK also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 96.35, a Stop Loss order could be placed below this zone.
More info and screens
WLK Support and Resistance Analysis
74.68
When analyzing the support we can see 3 important areas.
- A support zone ranging from 93.02 to 96.35. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @87.92 from a trend line in the daily time frame.
- Support @75.43 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- Resistance @112.04 from a horizontal line in the weekly time frame.
WLK Technical Indicator Signal Analysis
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 | 86.77 | POSITIVE | WLK has a high relative strength, it outperformed 86.77% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of WLK is below 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) | 53.26 | NEUTRAL | The RSI value for WLK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.47 | NEGATIVE | The MACD value suggests WLK has a negative trend. |
| Stochastics (14,3) | 62.75 | NEUTRAL | The Stochastics value for WLK is a neutral value. |
| Average True Range in percent/ATR (20) | 5.58 | HIGH VOLATILITY | The high ATR as a percentage value for WLK suggests high volalility. |
| Average Directional Index/ADX (14) | 31.48 | POSITIVE | The high ADX value value for WLK suggests a strong trend. |
WLK Chart- and CandleStick Pattern Analysis
WLK Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 112.05 | 100.53 | 11.52 (10.28%) | 9.73% |
| An entry @112.05. This is a Buy Stop order right above the resistance zone. | An exit @100.53. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 11.52 points, which is 10.28%. | For a 1.00% total portfolio risk, you can invest 9.73% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
WLK Technicals: Chart, Performance Metrics, Trend & Indicators
106.12
-5.11 (-4.59%)
WESTLAKE CORP / WLK TA 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 53.2562. This indicates that the stock is currently neutral.
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 96.35 and a resistance level at 112.04. Check the full technical report for our detailed analysis of WLK support and resistance levels.