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SmarTrend Watching for Potential Pullback in Shares of Packaging Corp After 1.99% Gain

By James Quinn

Packaging Corp (NYSE:PKG) traded in a range yesterday that spanned from a low of $103.95 to a high of $106.14. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $104.48 on volume of 220,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

In the past 52 weeks, shares of Packaging Corp have traded between a low of $77.90 and a high of $109.36 and are now at $105.65, which is 36% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Keywords: rebounders packaging corp

Ticker(s): PKG