NYSE:PKG   Packaging Corporation of America

Packaging its bags and going south.

Since peaking in price in May 2021, PKG entered a parallel channel range between 129 – 155.
April 2022, price broke out from range with what looked like to be the continuation of its uptrend.
Unfortunately, the breakout was short lived, and price fell back into range. The breakout is deemed a “false breakout”.
Price fell back into range and has pulled back to top of resistance. This is my que to enter swing trade short.

Entry: 153.34
Stoploss: 160.47
Target: 129.80, 15.4%, 3.35 RR ratio
Trade active:
Trade is still active
Trade closed: target reached:
Target: 129.80, 15.4%, 3.35 RR ratio


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