Packaging Corporation of America Stock Forecast
Weaker technical forecast for Packaging Corporation of America as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The Packaging Corporation of America stock price gained 0.92% on the last trading day (Friday, 19th Apr 2024), rising from $178.25 to $179.89. During the last trading day the stock fluctuated 1.82% from a day low at $177.69 to a day high of $180.91. The price has fallen in 8 of the last 10 days and is down by -4.15% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 560 thousand more shares were traded than the day before. In total, 994 thousand shares were bought and sold for approximately $178.86 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $178.66 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 14.91% during the next 3 months and, with a 90% probability hold a price between $205.29 and $223.35 at the end of this 3-month period.
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PKG Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. 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 $180.72 and $184.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -5.67%. Further fall is indicated until a new bottom pivot has been found. 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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.22 (1.82%) between high and low. For the last week, the stock has had daily average volatility of 2.19%.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Packaging Corporation of America to open at $179.50, and during the day (based on 14 day Average True Range), to move between $176.52 and $183.26, which gives a possible trading interval of +/-$3.37 (+/-1.87%) 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 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $181.19 (0.72%) than the support at $171.68 (4.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Packaging Corporation of America will release earnings AMC on Monday, April 22, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.64. We will update the financials statements for Packaging Corporation of America, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.30% in the first trading day after earnings release.
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: -1.541 Sell Candidate Downgraded
Predicted Opening Price for Packaging Corporation of America of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $179.50 ( 0.220%) | $179.89 |
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 | 182.72 | 1.57 % | |
| R2 | 181.49 | 0.89 % | ||
| R1 | 180.73 | 0.465 % | ||
| Current price: | 179.89 | |||
| Support | S1 | 178.26 | -0.90 % | |
| S2 | 177.50 | -1.33 % | ||
| S3 | 176.27 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 185.43 | 3.08 % | |
| R2 | 183.34 | 1.92 % | ||
| R1 | 181.19 | 0.723 % | ||
| Current price | 179.89 | |||
| Support | S1 | 171.68 | -4.56% | |
| S2 | 165.01 | -8.27% | ||
| S3 | 163.14 | -9.31% |
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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