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Packaging of America Crosses Below its 10-day MA (PKG)

By Shiri Gupta

Today, shares of Packaging of America (NYSE:PKG) have fallen below their 10-day MA of $65.59 on a volume of 241K 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, Packaging of America share prices have been bracketed by a low of $44.32 and a high of $73.60 and are now at $64.32, 45% above that low price. 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 30.8%. 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

Ticker(s): PKG