Packaging of America Bearish Moving Average Crossover Alert (PKG)
Today, shares of Packaging of America (NYSE:PKG) have fallen below their 10-day MA of $76.63 on a volume of 162K 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.
Over the past year, Packaging of America has traded in a range of $44.32 to $77.97 and is now at $75.81, 71% above that low. 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 10.8%. 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