Packaging Corporation of America Stock Forecast
Packaging Corporation of America stock price ended at $173.92 on Wednesday, after gaining 1.78%.
(Updated on Apr 24, 2024)
The Packaging Corporation of America stock price gained 1.78% on the last trading day (Wednesday, 24th Apr 2024), rising from $170.88 to $173.92. During the last trading day the stock fluctuated 2.27% from a day low at $171.02 to a day high of $174.91. The price has fallen in 8 of the last 10 days and is down by -7.4% for this period. Volume fell on the last day by -581 thousand shares and in total, 856 thousand shares were bought and sold for approximately $148.85 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $171.22 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 11.95% during the next 3 months and, with a 90% probability hold a price between $191.68 and $218.01 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 1.78%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $177.19 and $184.22. 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).
Support, Risk & Stop-loss for Packaging Corporation of America stock
Packaging Corporation of America finds support from accumulated volume at $171.68 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 $3.89 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 2.11%.
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 Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Packaging Corporation of America to open at $173.28, and during the day (based on 14 day Average True Range), to move between $170.00 and $177.84, which gives a possible trading interval of +/-$3.92 (+/-2.25%) 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 4.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $171.68 (1.29%) than the resistance at $179.89 (3.43%), 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.
Current score: -1.060 Sell Candidate Unchanged
Predicted Opening Price for Packaging Corporation of America of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $173.28 ( 0.366%) | $173.92 |
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 | 177.17 | 1.87 % | |
| R2 | 175.69 | 1.02 % | ||
| R1 | 174.77 | 0.488 % | ||
| Current price: | 173.92 | |||
| Support | S1 | 171.80 | -1.22 % | |
| S2 | 170.88 | -1.75 % | ||
| S3 | 169.39 | -2.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 185.43 | 6.62 % | |
| R2 | 181.19 | 4.18 % | ||
| R1 | 179.89 | 3.43 % | ||
| Current price | 173.92 | |||
| Support | S1 | 171.68 | -1.29% | |
| S2 | 170.88 | -1.75% | ||
| S3 | 163.14 | -6.20% |
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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