Packaging Corporation of America Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Packaging Corporation of America stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Packaging Corporation of America stock price fell by -2.30% on the last day (Tuesday, 30th Apr 2024) from $177.05 to $172.98. During the last trading day the stock fluctuated 2.20% from a day low at $172.73 to a day high of $176.53. The price has fallen in 6 of the last 10 days and is down by -3.68% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -432 thousand shares and in total, 425 thousand shares were bought and sold for approximately $73.58 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $172.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.04% during the next 3 months and, with a 90% probability hold a price between $187.74 and $212.49 at the end of this 3-month period.
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PKG Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 1.23%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Packaging Corporation of America stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $174.03 and $182.86. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Packaging Corporation of America stock
Packaging Corporation of America finds support from accumulated volume at $170.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.80 between high and low, or 2.20%. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PKG) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Packaging Corporation of America to open at $174.08, and during the day (based on 14 day Average True Range), to move between $168.87 and $177.09, which gives a possible trading interval of +/-$4.11 (+/-2.38%) up or down from last closing price. If Packaging Corporation of America takes out the full calculated possible swing range there will be an estimated 4.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $170.88 (1.21%) than the resistance at $177.05 (2.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Packaging Corporation of America stock A Buy?
The Packaging Corporation of America stock holds several negative signals and despite the positive trend, we believe Packaging Corporation of America will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.019 Sell Candidate Downgraded
Predicted Opening Price for Packaging Corporation of America of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $174.08 ( 0.636%) | $172.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PKG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 177.88 | 2.83 % | |
| R2 | 176.43 | 1.99 % | ||
| R1 | 175.53 | 1.48 % | ||
| Current price: | 172.98 | |||
| Support | S1 | 172.63 | -0.203 % | |
| S2 | 171.73 | -0.722 % | ||
| S3 | 170.28 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 181.19 | 4.75 % | |
| R2 | 179.89 | 3.99 % | ||
| R1 | 177.05 | 2.35 % | ||
| Current price | 172.98 | |||
| Support | S1 | 170.88 | -1.21% | |
| S2 | 163.14 | -5.69% | ||
| S3 | 163.03 | -5.75% |
PKG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 15, 2024 | Apr 15, 2024 | $1.25 | 0.693% |
| 2 | Feb 28, 2024 | Mar 14, 2024 | Apr 15, 2024 | $1.25 | 0.693% |
| 3 | Dec 15, 2023 | Dec 15, 2023 | Jan 15, 2024 | $1.25 | 0.752% |
| 4 | Sep 13, 2023 | Sep 22, 2023 | Oct 13, 2023 | $1.25 | 0.83% |
| 5 | May 02, 2023 | Jun 14, 2023 | Jul 14, 2023 | $1.25 | 0.93% |
FAQ
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