Westlake Chemical Technical Analysis (NYSE:WLK)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. The WLK stock chart pattern can give those who understand technical analysis an indication of which way WLK stock is headed, but cannot predict with 100% certainty as to what can happen to the Westlake Chemical stock price.
You can view Simple Moving Average - SMA 20 day, 50 day & 100 day, Exponential Moving Average - EMA 20 day, 50 day & 100 day charts, and Bollinger Bands for Westlake Chemical. Technical analysis uses an approach for Westlake Chemical stock analysis that does not care for the fair value of a company but uses price and volume data only.
Westlake Chemical Moving Average
Moving averages show the average price of WLK stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $101.93 is above the price of $96.93.
Westlake Chemical Bollinger Bands
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the WLK stock. Westlake Chemical bollinger bands show that the stock price is $96.93, upper band is 110.22, lower band is 93.64, and the average is 101.93.
Westlake Chemical Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Westlake Chemical MACD indicator can be used to identify bullish and bearish trends for the stock.
Westlake Chemical Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . If the RSI of WLK stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.