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Look for Shares of Packaging Corp to Potentially Rebound after Yesterday's 2.60% Sell Off

By Nick Russo

Packaging Corp (NYSE:PKG) traded in a range yesterday that spanned from a low of $120.16 to a high of $123.50. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $121.56 on volume of 201,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Packaging Corp share prices have moved between a 52-week high of $131.13 and a 52-week low of $104.29 and are now trading 15% above that low price at $120.28 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Packaging Corp on April 18th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $116.52. Since that recommendation, shares of Packaging Corp have risen 6.1%. 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