Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Westlake Corporation shares valued at $2,221,928 were purchased by Janssens Thomas J. on Aug 23 ’24. At $149.48 per share, Janssens Thomas J. acquired 14,864 shares.
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Also, Chao Albert purchased 45,298 shares, netting a total of over 6,568,210 in proceeds.
Before that, Buesinger Robert F. had sold 3,500 shares from its account. In a trade valued at $554,750, the EVP, HIP, IT & Digital traded Westlake Corporation shares for $158.50 each. Upon closing the transaction, the insider’s holdings decreased to 3,500 shares, worth approximately $2.47 million.
As published in a research note from BofA Securities on October 16, 2024, Westlake Corporation [WLK] has been rated up from an Underperform to a Neutral and the price target has been revised to $159 from $151. Analysts at Barclays upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late September. As of August 23, 2024, RBC Capital Mkts has increased its “Sector perform” rating to a “an Outperform” for WLK. Earlier on August 08, 2024, Mizuho initiated its rating. Their recommendation was “an Outperform” for WLK stock.
Analyzing WLK Stock Performance
During the last five days, there has been a drop of approximately -2.39%. Over the course of the year, Westlake Corporation shares have jumped approximately 0.16%. Shares of the company reached a 52-week high of $162.64 on 04/09/24 and a 52-week low of $118.64 on 02/20/24. A 50-day SMA is recorded $144.00, while a 200-day SMA reached $146.04. Nevertheless, trading volume fell to 0.58 million shares from 0.43 million shares the previous day.
Support And Resistance Levels for Westlake Corporation (WLK)
According to the 24-hour chart, there is a support level at 138.94, which, if violated, would cause prices to drop to 137.71. In the upper region, resistance lies at 141.86. The next price resistance is at 143.55. RSI (Relative Strength Index) is 40.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.56, which suggests the price will decrease in the coming days. Percent R is at 93.33%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
