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Westlake Chemica: The Winning Streak Continues (WLK)

By David Diaz

Shares of Westlake Chemica (NYSE:WLK) traded at a new 52-week high today of $77.07. So far today approximately 115,000 shares have been exchanged, as compared to an average 30-day volume of 869,000 shares.

In the past 52 weeks, Westlake Chemica share prices have been bracketed by a low of $39.48 and a high of $77.07 and are now at $76.83, 95% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.6%.

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.

Westlake Chemica (NYSE:WLK) is currently priced 7.5% above its average consensus analyst price target of $71.08. The stock should find initial support at its 200-day moving average (MA) of $52.52 and further support at its 50-day MA of $46.88.

SmarTrend recommended that subscribers consider buying shares of Westlake Chemica on June 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.96. Since that recommendation, shares of Westlake Chemica have risen 17.5%. 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