Bullish Moving Average Cross by Packaging of America (PKG)
Packaging of America (NYSE:PKG) crossed over its 10-day moving average of $82.58 on a volume of 312K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Packaging of America share prices have moved between a 52-week high of $85.55 and a 52-week low of $44.32 and are now trading 89% above that low price at $83.64 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.7%.
SmarTrend recommended that subscribers consider buying shares of Packaging of America on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.21. Since that recommendation, shares of Packaging of America have risen 16.1%. We continue to monitor PKG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses packaging of america