Westlake Corporation : The bullish trend continues
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$97.71 | $105 | $94.8 | +7.46% |
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year.
Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions if the stock crosses the USD 98.25 resistance.
In consequence, investors can take a long position in Westlake Chemical after the breakout of the USD 98.25. A new bullish fluctuation could lead the security toward the slant around USD 105. A stop loss will be set under the 20-day moving average below USD 95.