The Chart of the Day is Westlake Chemical (WLK). I found the stock by sorting the New High list for the best technical buy signals, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 8/14 the stock gained 5.57%.
Westlake Chemical Corporation (WLK) is a vertically integrated international manufacturer and supplier of petrochemicals, polymers and fabricated products. The company's range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 8 new highs and up 8.11% in the last month
- Relative Strength Index 71.28%
- Barchart computes a technical support level at 92.78
- Recently traded at 94.00 with a 50 day moving average of 86.67
Fundamental factors:
- Market Cap $12.54 billion
- P/E 18.66
- Dividend yield .54%
- Revenue expected to grow 15.40% this year and another 6.60% next year
- Earnings estimated to increase 20.70% this year, an additional 10.90% next year and continue to increase at an annual rate of 5.00% for the next 5 years
- Wall Street analysts issued 4 buy, 2 hold and an under perform recommendation on the stock
Not sure how much longer the ride will last buy monitoring the 50 and 100 day moving averages should protect your profits.
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