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After Yesterday's Rally of 2.12% Shares Could Potentially Pullback

By Nick Russo

Packaging Corp (NYSE:PKG) traded in a range yesterday that spanned from a low of $126.15 to a high of $129.15. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $126.58 on volume of 372,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Packaging Corp share prices have moved between a 52-week high of $128.90 and a 52-week low of $62.41 and are now trading 106% above that low price at $128.82 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.7% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Packaging Corp on November 30th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.04. Since that recommendation, shares of Packaging Corp have risen 7.6%. We continue to monitor PKG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders packaging corp

Ticker(s): PKG