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Shares of Westlake Chemica Has Risen Above Previous 52-Week High

By Shiri Gupta

Shares of Westlake Chemica (NYSE:WLK) traded today at $122.78, breaking its 52-week high. This new high was reached on below average trading volume as 52,000 shares traded hands, while the average 30-day volume is approximately 872,000 shares.

Westlake Chemica (NYSE:WLK) has potential upside of 0.2% based on a current price of $122.76 and analysts' consensus price target of $123.06. Westlake Chemica shares have support at the 50-day moving average (MA) of $112.11 and additional support at the 200-day MA of $98.03.

Over the past year, Westlake Chemica has traded in a range of $59.58 to $122.78 and is now at $122.76, 106% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 0.4%.

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated products. The Company serves a range of consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, and residential and commercial construction.

SmarTrend recommended that subscribers consider buying shares of Westlake Chemica on April 18th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $113.80. Since that recommendation, shares of Westlake Chemica have risen 6.6%. We continue to monitor WLK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows westlake chemica

Ticker(s): WLK