A price action above 148.00 supports a bullish trend direction.
Increase long exposure for a break above 157.00.
The target price is set at 168.00.
the stop-loss price is set at 148.00 (the 23.6% Fibonacci retracement level).
Remains a risky trade.
NYSE:PKG
- Deterioration in operation conditions as a result of general economic conditions and customers lowering their inventories.
- This has resulted in lower demand and lower production, which is continuing into 2023 and has negatively affected profitability.
- Published containerboard prices have decreased beginning in the fourth quarter of 2022, which will...
PKG
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...
The PEAD projected a Bearish outlook for $PKG after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 83.33%.
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Fundamental Indicators:
Sector – Consumer Cyclical
US Business Cycle Stage – late cycle, when this sector is not favourable
Revenue – consistent growth for the past 5 years, although just 6% average annual rate, 2022 TTM
Profits – confidently rising since 2020
Net margin – decent 12%
...
PKG is testing the middle line of a larger uptrend
This place has been seen as a prior spot of support
The prior bull move allows the assumption of a bullish state, and the assumption of continuation above the middle trend line . Moving downward from here out of the Broadening formation is less likely.
Daily chart
* Great earnings
* Strong up trend
* Breaking out of a 13 month base and retested it as support
* Sector: Consumer Cyclical - Packaging & Containers
* Relative Strength vs. Sector: 1.38
* Relative Strength vs. SP500: 3.17
* U/D Ratio: 1.28
* Base Depth: 21.42%
* Distance from breakout buy point: 1.9%
* Volume 14.3% above its 15 day average
Hey traders, PACKAGING CORP OF AMERICA is in a fake bearish movement with a short-trace water-carrying candle shape and a low return of traded buy volume. The TIMEFRAME M1 shows a marubozu with a low return in sales volume made it is heading to last previous lower. Which is on the bottom of the fake triple top balance zone after that she goes to rechecker the...
Bullish 50/200SMA cross. Neutral on earnings results. Looking to enter a long position if the price breaks out of any of these resistance points after earnings.
SPY breakdown leading to overall downtrend, PKG seems to have fizzled out of its ER catalyst cannot hold these levels I predict its going lower.
Strike $85 $2.4 Stop at 1.2
May go lower if spy continues
