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Look for Shares of Packaging Corp to Potentially Pullback after Yesterday's 3.47% Rise

By David Diaz

Packaging Corp (NYSE:PKG) traded in a range yesterday that spanned from a low of $115.02 to a high of $119.11. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $117.44 on volume of 297,000 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 $131.13 and a 52-week low of $62.41 and are now trading 90% above that low price at $118.53 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 is tracking the current trend status for Packaging Corp and will alert subscribers who have PKG in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders packaging corp

Ticker(s): PKG