Wed 17'th Oct 2018
Packaging Corporation of America Stock Analysis
Technical stock analysis for Wed 17'th Oct 2018
|Shorts||2.38% ( 2018-09-28 )|
|Loans||2 633.4 mill|
Packaging Corporation of America gained 0.53% in the last trading day, rising from $90.43 to $90.91 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has been going up and down for this period, and there has been a -14.19% loss for the last 2 weeks. Volume fell in the last day by -0.68 million shares, and in total, 1.46 million shares bought and sold for approximately $132.54 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Packaging Corporation of America lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $87.36 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.48% during the next 3 months and, with 90% probability hold a price between $77.33 and $100.72 at the end of this period.
A buy signal was issued from a pivot bottom point on Friday October 12, 2018, which indicates further gains 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 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. Packaging Corporation of America holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $107.43. On a fall, the stock will find some support from the short-term average at $89.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 17 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Packaging Corporation of America finds support from accumulated volume at $90.43.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.51 between high and low, or 1.69%. For the last week, the stock has had a daily average volatility of 2.26%.
Packaging Corporation of America is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Packaging Corporation of America holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Click for Top 5 Sell Candidates
|PKG $90.91 $0.48(0.53%)|
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