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Watch for Packaging Corp to Potentially Rebound After Falling 2.02% Yesterday

By James Quinn

Packaging Corp (NYSE:PKG) traded in a range yesterday that spanned from a low of $95.08 to a high of $97.82. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $95.80 on volume of 217,000 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 $83.54 and are now trading 14% above that low price at $95.40 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.1%.

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