WESTLAKE CORP. - Daily - Technical analysis published on 10/09/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 60.73 USD
My targets
57.29 USD (-2.25%)
40.01 USD (-31.74%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WESTLAKE CHEMICAL as long as the price remains well below 60.73 USD. The sellers” bearish objective is set at 57.29 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 40.01 USD. In case of crossing, the next objective would be the support located at 18.50 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
FORCE
0
10
6.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WESTLAKE CHEMICAL rating is 58.61 USD. The price is lower by -1.74% since the last closing and was traded between 58.56 USD and 59.76 USD over the period. The price is currently at +0.09% from its lowest and -1.92% from its highest.58.56
59.76
58.61
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WESTLAKE CHEMICAL in Daily shows a overall strongly bearish trend. The signals given by moving averages are 85.71% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 100
Type : Bearish
Timeframe : Daily
On the 18 technical indicators analysed, 4 are bullish, 5 are neutral and 9 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 18.50 | 40.01 | 57.29 | 58.61 | 60.73 | 64.82 | 69.91 |
| Change (%) | -68.44% | -31.74% | -2.25% | - | +3.62% | +10.60% | +19.28% |
| Change | -40.11 | -18.60 | -1.32 | - | +2.12 | +6.21 | +11.30 |
| Level | Intermediate | Major | Intermediate | - | Major | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 58.26 | 58.90 | 59.28 | 59.92 | 60.30 | 60.94 | 61.32 |
| Camarilla | 59.37 | 59.46 | 59.56 | 59.65 | 59.74 | 59.84 | 59.93 |
| Woodie | 58.12 | 58.84 | 59.14 | 59.86 | 60.16 | 60.88 | 61.18 |
| Fibonacci | 58.90 | 59.29 | 59.53 | 59.92 | 60.31 | 60.55 | 60.94 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 48.77 | 53.74 | 57.02 | 61.99 | 65.27 | 70.24 | 73.52 |
| Camarilla | 58.03 | 58.79 | 59.54 | 60.30 | 61.06 | 61.81 | 62.57 |
| Woodie | 47.93 | 53.32 | 56.18 | 61.57 | 64.43 | 69.82 | 72.68 |
| Fibonacci | 53.74 | 56.89 | 58.84 | 61.99 | 65.14 | 67.09 | 70.24 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42.19 | 49.10 | 57.31 | 64.22 | 72.43 | 79.34 | 87.55 |
| Camarilla | 61.36 | 62.75 | 64.13 | 65.52 | 66.91 | 68.29 | 69.68 |
| Woodie | 42.84 | 49.43 | 57.96 | 64.55 | 73.08 | 79.67 | 88.20 |
| Fibonacci | 49.10 | 54.88 | 58.44 | 64.22 | 70.00 | 73.56 | 79.34 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 37.57 | |
| MACD (12,26,9): | -0.7200 | |
| Directional Movement: | -8.63 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 61.81 | |
| Parabolic SAR (0,02-0,02-0,2): | 66.56 | |
| Elder Ray (13): | -2.79 | |
| Super Trend (3,10): | 65.78 | |
| Zig ZAG (10): | 58.61 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 9.40 | |
| TEMA (21): | 61.06 | |
| Williams %R (14): | -99.40 | |
| Chande Momentum Oscillator (20): | -6.49 | |
| Repulse (5,40,3): | -2.6000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 13.62 |
| MA7: | 61.20 | |
| MA20: | 63.96 | |
| MA50: | 62.16 | |
| MA100: | 63.58 | |
| MAexp7: | 60.83 | |
| MAexp20: | 62.39 | |
| MAexp50: | 62.96 | |
| MAexp100: | 64.10 | |
| Price / MA7: | -4.23% | |
| Price / MA20: | -8.36% | |
| Price / MA50: | -5.71% | |
| Price / MA100: | -7.82% | |
| Price / MAexp7: | -3.65% | |
| Price / MAexp20: | -6.06% | |
| Price / MAexp50: | -6.91% | |
| Price / MAexp100: | -8.56% |
News
The last news published on WESTLAKE CHEMICAL at the time of the generation of this analysis was as follows:
- Westlake Chemical Announces Proposed Offering of Senior Notes
- Westlake Chemical Corporation Reports Record 2018 Full-Year Results
- Westlake Chemical Corporation Declares Quarterly Dividend
- Consolidated Research: 2019 Summary Expectations for Post, Westlake Chemical, Repligen, Weingarten Realty Investors, AptarGroup, and At Home Group — Fundamental Analysis, Key Performance Indications
- Westlake Chemical Corporation to Host Earnings Call
This member declared not having a position on this financial instrument or a related financial instrument.
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