WESTLAKE CHEMICAL PARTNERS L (WLKP) Stock Technical Analysis
NYSE:WLKP • US9604171036
We assign a technical rating of 8 out of 10 to WLKP. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, WLKP is only an average performer.
- The long and short term trends are both positive. This is looking good!
- In the last month WLKP has a been trading in the 20.46 - 22.30 range, which is quite wide. It is currently trading near the high of this range.
- When comparing the performance of all stocks over the past year, WLKP turns out to be only a medium performer in the overall market: it outperformed 51% of all stocks.
- WLKP is part of the Chemicals industry. There are 83 other stocks in this industry, WLKP did better than 47% of them.
- WLKP is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so WLKP is lagging the market.
Although WLKP has an excellent technical rating, the quality of the presented setup is not ideal 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
19.27
4 important support areas can be observed.
- Support @21.89 from a horizontal line in the daily time frame.
- A support zone ranging from 21.15 to 21.40. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 20.45 to 20.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @19.46 from a trend line in the daily time frame.
2 important resistance areas can be observed.
- Resistance @22.38 from a horizontal line in the daily time frame.
- A resistance zone ranging from 24.54 to 24.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 WLKP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WLKP is up. |
| ChartMill Relative Strength | 51.71 | NEUTRAL | WLKP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WLKP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WLKP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of WLKP is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 63.55 | NEUTRAL | The RSI value for WLKP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests WLKP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 58.05 | NEUTRAL | The Stochastics value for WLKP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.34 | MEDIUM VOLATILITY | The ATR as a percentage value for WLKP suggests some volalility. |
| Average Directional Index/ADX (14) | 21.91 | NEUTRAL | The ADX value for WLKP suggests a possible start of a new trend. |
22.08
+0.84 (+3.95%)
WESTLAKE CHEMICAL PARTNERS L / WLKP FAQ
What is the technical rating for WLKP stock?
ChartMill assigns a technical rating of 8 / 10 to WLKP.
What is the current trend direction of WESTLAKE CHEMICAL PARTNERS L (WLKP) stock?
The current trend direction for WESTLAKE CHEMICAL PARTNERS L (WLKP) is Bullish.
What is the RSI signal for WESTLAKE CHEMICAL PARTNERS L (WLKP) stock?
WESTLAKE CHEMICAL PARTNERS L (WLKP) has an RSI value of 63.5527. This indicates that the stock is currently neutral.
Can you provide the short term momentum for WESTLAKE CHEMICAL PARTNERS L?
The short term momentum for WESTLAKE CHEMICAL PARTNERS L (WLKP) is positive.
What are the support and resistance levels for WESTLAKE CHEMICAL PARTNERS L (WLKP) stock?
WESTLAKE CHEMICAL PARTNERS L (WLKP) has a support level at 21.89 and a resistance level at 22.38. Check the full technical report for our detailed analysis of WLKP support and resistance levels.