Westlake Chemical Corporation (WLK) Shares are Up 6.36%

Westlake Chemical Corporation (WLK) : Traders are bullish on Westlake Chemical Corporation (WLK) as it has outperformed the S&P 500 by a wide margin of 2.28% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.19%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.36% in the last 1 week, and is up 1.73% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 5.42% and the 50-Day Moving Average is 8.89%.The 200 Day SMA reached 14.82%


Westlake Chemical Corporation (NYSE:WLK): After opening at $53.38, the stock dipped to an intraday low of $53.119 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $53.99 and the buying power remained strong till the end. The stock closed at $53.5 for the day, a gain of 1.44% for the day session. The total traded volume was 1,630,754. The stocks close on the previous trading day was $53.5.

Westlake Chemical Corporation (WLK) : The most positive equity analysts on Westlake Chemical Corporation (WLK) expects the shares to touch $65, whereas, the least positive believes that the stock will trade at $56 in the short term. The company is covered by 5 Wall Street Brokerage Firms. The average price target for shares are $59.4 with an expected fluctuation of $3.36 from the mean.

Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products. The Companys products include a range of chemicals used in the world, which are fundamental to many diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods. The Company operates in two principal operating segments, Olefins and Vinyls. The Company is an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products. The Olefins segment manufactures a range of petrochemical products. The Vinyls segment primarily offers PVC, vinyl chloride monomer (VCM), ethylene dichloride (EDC), chlorine, caustic soda and, through Westlake Chemical OpCo LP, ethylene.

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