Westlake Chemical could reach its USD 116.5 resistance.

The economic and financial situation of the company are still strong. The good point is the upward revision of 2013 EPS for the last 12 months (+50%).

Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20-day moving average should help to reach the USD 116.5 long term resistance.

In consequence, investors can take a long position in Westlake Chemical Corporation with a first target price at USD 116.5. This level is the long term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance with the USD 120 as a target. A stop loss will be set under the short term support at USD 111.