Shares of Potlatch Rise to a New 52-Week High
Shares of Potlatch (NYSE:PCH) traded at a new 52-week high today of $44.93. So far today approximately 99,000 shares have been exchanged, as compared to an average 30-day volume of 324,000 shares.
Potlatch (NYSE:PCH) is currently priced 16.9% above its average consensus analyst price target of $37.33. The stock should find initial support at its 50-day moving average (MA) of $40.84 and further support at its 200-day MA of $36.09.
In the past 52 weeks, Potlatch share prices have been bracketed by a low of $28.02 and a high of $44.93 and are now at $44.90, 60% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.9%.
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 25.4%. 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