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Bearish Moving Average Cross by Packaging Corp (PKG)

By Shiri Gupta

Packaging Corp (NYSE:PKG) shares have crossed bearishly below their 10-day moving average of $98.46 on a volume of 351K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Packaging Corp have traded between a low of $77.90 and a high of $124.70 and are now at $96.35, which is 24% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of Packaging Corp on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.29. Since that recommendation, shares of Packaging Corp have risen 11.9%. We continue to monitor PKG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses packaging corp

Ticker(s): PKG