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SmarTrend Watching for Potential Rebound in Shares of Packaging Corp After 1.72% Loss

By Amy Schwartz

Packaging Corp (NYSE:PKG) traded in a range yesterday that spanned from a low of $94.42 to a high of $95.82. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $94.82 on volume of 158,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Packaging Corp share prices have been bracketed by a low of $77.90 and a high of $124.70 and are now at $94.67, 22% above that low price. The 200-day and 50-day moving averages have moved 0.32% lower and 0.44% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Packaging Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Packaging Corp in search of a potential trend change.

Keywords: rebounders packaging corp

Ticker(s): PKG