Shares of Potlatch Has Risen Above Previous 52-Week High
Shares of Potlatch (NYSE:PCH) traded at a new 52-week high today of $40.13. This new high was reached on approximately average trading volume as 276,000 shares traded hands, while the average 30-day volume is approximately 219,000 shares.
Potlatch (NYSE:PCH) defies analysts with a current price ($40.01) 11.7% above its average consensus price target of $35.33. The stock should find initial support at its 50-day moving average (MA) of $38.59 and further support at its 200-day MA of $34.51.
Over the past year, Potlatch has traded in a range of $28.02 to $40.13 and is now at $40.01, 43% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.
Potlatch Corporation is a real estate investment trust that owns timberlands in Arkansas, Idaho, Minnesota and Wisconsin. The Company grows and harvests timber, as well as manufactures and sells wood products, printing papers, and other pulp-based products. Potlatch's timberlands and all of its manufacturing facilities are located in the continental United States.
SmarTrend recommended that subscribers consider buying shares of Potlatch on August 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.55. Since that recommendation, shares of Potlatch have risen 12.2%. We continue to monitor PCH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows potlatch