$WLK with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $WLK after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 75%.
WLK trade ideas
$WLK with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $WLK after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 100%.
$WLK with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $WLK after a POsitive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 62.5%.
Breakout tradeWLK has broken out from the downward sloping line of resistance and ready to move up.
It is up about 2% today.
$WLK ready to head higher?Notes/Thoughts:
* Strong earnings in the recent quarters
* Strong up trend in the longer time frames
* Broke out of its base and started to move higher but due to recent market conditions it pulled back and is now showing signs of continuation
* Close to the pullback recovery area of $127.11
* Recently tested historical all-time-highs of $114.47 as support
Technicals:
* Sector: Basic Materials - Specialty Chemicals
* Relative Strength vs. Sector: 13.47
* Relative Strength vs. SP500: 11.83
* U/D Ratio: 1.45
* Base Depth: 12.05%
* Distance from breakout buy point: 0.75%
* Volume 19.05% above its 15 day average.
Trade Idea:
* You can enter now as the price is still close to the pull back recovery buy area
* Manage risk accordingly
* Due to the current choppy market conditions I've tightened my stop to 4% and reduced my target to 6%.
17/3/2022 NYSE (WLK)Buy (Entry Price) above the black line and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $118.33
Target Price: $121.01
Stop Loss: $113.86
WLK | Guidance Journal Entry
Bias: Positive.
Sentiment: Optimistic.
Emoji (emotion): Working 👨💼.
Null Hypothesis: Buy.
Alternative Hypothesis: Sell.
Signals: %B buying patterns, MA buying patterns.
Position: Short term day trade.
Notes: I'm anticipating an earning surprise tomorrow morning before the market opens.
Other:
Disclaimer: My journal entry is not a complete prospectus, please consider it accordingly.
Social: I'm happy to hear from my readers/audience and I encourage constructive feedback; although I'm busy I will give my best effort to reply.
About the Author: I strive to become one of Tradingview's pinescript Wizards and Top Authors, as well as build a reputable reputation & following.
About the Security: "Westlake Chemical Corp. manufactures and markets petrochemicals, polymers and fabricated building products. It operates through the following segments: Olefins and Vinyls. The Olefins segment manufactures ethylene, polyethylene and styrene and associated co-products at the manufacturing facility in Lake Charles and polyethylene at the Longview facility. The Vinyls segment manufactures and sells building products fabricated from polyvinyl chloride, including pipe, fittings, profiles, foundation, building products, fence and deck components, window and door components, film and sheet products. The company was founded by Ting Tsung Chao in 1986 and is headquartered in Houston, TX."
BUY to WESTLAKE CHEMICAL CORPORATION DailyHey people, WESTLAKE CHEMICAL CORPORATION is in a fake bullish movement with an upside down hammer candle and a strong comeback in buy volume issued. On the TIMEFRAME M1 we can see a shape of a large hammer candle upside down with a low return of purchase volume made it just failed. On its first high below the VWAP to fill the bearish breakout gap with the return of investors. We can go on the basis of the bollinger after the VWAP test and finish on the top of the consolidation zone to check it.
Strong possibility of breaking out the price with the momentum of both the zone to arrive in a new one and to land on the next higher. With an excess before breakout of a consolidation zone (View on TIMEFRAME H1) to fill a bearish breakout gap. Little buying power to test the intermediate median of ANDREWS PICHTFORK at this time.
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WLK REVERSAL DOUBLE Bottom IdeaThink double bottom at 93.56 for reversal to break the doescending wedge triangle.
Entry After confirmation of double bottom of 93.56 enter at 94
Targets:
T1:105.2
T2:113.5
T3:115.5
WLK Announces Expansion of Existing Share Repurchase ProgramWLK: Westlake Chemical Corporation
2018-08-17 16:55:00
Westlake Chemical Announces Expansion of Existing Share Repurchase Program
$WLK - She ready SUUUPAAAAA hella fine ass chart. Trying not to get too ahead of myself but - I am for sure lol. Been working on a linear regression scan since, in this market, it's too sketch finding a dip to buy that won't backfire off IV% hikes. Come to (almost) find out how the linear regression curve off some largest % decliners (8 day period) affects the timing of disparity balance but, most interesting part is seeing the similarities in over-extended short plays vs. under-approximated call opportunities. But regardless, definitely saw similarities between $BIDU & $FDS in this one. Luckily I was able to catch the setup since I was late for $BIDU & $FDS (short entry + TP played out A1 tho). Starting off w/ the "eehhh" of an Adam & Eve double bottom, finishing off the oversold MFI for a third bottom & another (potential) bounce to test the highs. 45 EMA testing 55(low) MA before surging is (to me), a textbook description of a potential breakout. With price poking @ 20 EMA without making new lows, you might as well add a picture to it too. Idk tho just me you kno
$BABA -
$WLK -
Side-By-Side -
Catching the next leg up - Buy the retest hereRisking a little under 4% to take on this trade.
Targeting 8% gain using a measured move calculation from the previous consolidation we just had.
Strong fundamentals such as double digit revenue growth YoY, decent valuation, respectable PEG ratio, respectable margins, solid cash flows.
WLK Long Idea!If the market stables then this should higher. First Target should be taken where the target area starts & then stop loss should be at break even. Second target should be the upper side of the box. Soon will be adding stocks ideas to our trends2trade service.
WLK Fast Ball XRV Books A $1 Fast Ball XRV Expansion ProfitWLK was one of two triggers this morning (the other was OZRK). The Fast Ball XRV setup was on the buy-side of the market. It trigered right after the bell, and quickly booked a $1 per share profit.
NYSE:WLK
Westlake Chemical (WLK) Beats The Street - Fast Ball XRV higherWestlake Chemical (WLK) reported Q3 EPS $1.61 vs consensus $1.46. The stock took off and looks to have a tailwind pushing it into the Wednesday session. We will look for an entry above the Tuesday high, with a target at a measured move extension.
WLK
