Packaging Corp. of America
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.
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