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Bearish Moving Average Cross by Packaging Corp (PKG)

By James Quinn

Packaging Corp (NYSE:PKG) shares have crossed bearishly below their 10-day moving average of $94.86 on a volume of 105K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Packaging Corp share prices have moved between a 52-week high of $119.35 and a 52-week low of $77.90 and are now trading 20% above that low price at $93.25 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.4%.

SmarTrend is tracking the current trend status for Packaging Corp and will alert subscribers who have PKG in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses packaging corp

Ticker(s): PKG