Packaging of America Bearish Moving Average Crossover Alert (PKG)
Today, shares of Packaging of America (NYSE:PKG) have crossed bearishly below their 10-day moving average of $69.41 on a volume of 329K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Packaging of America has traded in a range of $44.32 to $73.60 and is now at $68.53, 55% above that low. The 200-day and 50-day moving averages have moved 0.02% lower and 2.69% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Packaging of America on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.79. Since that recommendation, shares of Packaging of America have risen 37.1%. 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