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Packaging of America Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Shares of Packaging of America (NYSE:PKG) traded today at $108.85, breaking its 52-week high. This new high was reached on below average trading volume as 98,000 shares traded hands, while the average 30-day volume is approximately 900,000 shares.

Packaging Corp of America manufactures containerboard and corrugated packaging products for use in protecting goods during shipment. The Company also produces multi-color boxes and displays, as well as meat boxes and wax-coated boxes for the agricultural industry.

Packaging of America (NYSE:PKG) is currently priced 11.8% above its average consensus analyst price target of $95.64. Packaging of America shares have support at the 200-day moving average (MA) of $62.16 and additional support at the 50-day MA of $58.93.

In the past 52 weeks, shares of Packaging of America have traded between a low of $44.32 and a high of $108.85 and are now at $108.43, which is 145% 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 April 20th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $94.27. Since that recommendation, shares of Packaging of America have risen 14.1%. We continue to monitor PKG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows packaging of america

Ticker(s): PKG