Packaging Corp. of America
Packaging Corp. of America (PKG) is a producer of containerboard and corrugated products in the U.S. This stock closed up 1.8% at $36.26 on Tuesday.
Tuesday's Volume: 2.8 millionAverage Volume: 970,234 Volume % Change: 188% >>5 Rocket Stocks to Buy This Week From a technical perspective, PKG bounced notably higher here right around some previous support at $34 with above-average volume. This move briefly pushed PKG into breakout territory, since the stock challenged some near-term overhead resistance at $36.68. Shares of PKG hit an intraday high of $36.96 and volume was well above its three-month average action of 936,914 shares. Traders should now look for long-biased trades in PKG as long as it's trending above its 50-day at $33.19, and then once it sustains a move or close above $36.68 to $36.96 with volume that registers near or above 936,914 shares. If PKG can maintain that trend, and trigger that breakout soon, then this stock will have a great chance of trading north of $40 in the near future.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV