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Downtrend Broken Resist.Archive
- 1/10/2025 -
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Packaging Corporation of America (PKG) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 5 consecutive negative weeks for the Packaging Corporation of America (PKG). During the week, the PKG climbed 2.20 points, or 0.97%, and closed at 228.10 on Friday, January 10, 2025. It was the best weekly gain since November 29, 2024. Weekly volume was 77% above average.
PKG is a member of Materials Sector. Materials is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See PKG long-term trend chart]
A long-term uptrend had started on February 5, 2024 at 159.57 and reached 250.80 on November 25, 2024. PKG gained -91.23 points, or -57.17%, in 42 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 200.43 and resistance is at 261.96. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See PKG medium-term trend chart]
A medium-term downtrend had started on November 25, 2024 at 250.80 and reached 222.80 on December 30, 2024. PKG lost 28.00 points, or 11.16%, in 5 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (218.43) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See PKG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 20, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See PKG short-term trend chart]
A short-term uptrend had started on December 30, 2024 at 222.80 and reached 230.00 on January 10, 2025. PKG gained -7.20 points, or -3.23%, in 11 days. The price is now at the 26.39% retracement level.
Daily Technical Indicators: [See PKG daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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