Risking 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.
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 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.
Westlake 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.