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Uptrend Broken SupportArchive
- 4/26/2024 -
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Packaging Corporation of America (PKG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Packaging Corporation of America (PKG). During the week, the PKG dropped -7.04 points, or -3.91%, and closed at 172.85 on Friday, April 26, 2024. It was the worst weekly loss since February 2, 2024. Weekly volume was 28% above average.
PKG is a member of Materials Sector. Materials is the most overbought 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 October 13, 2022 at 110.56 and reached 191.27 on April 9, 2024. PKG gained -80.71 points, or -73.00%, in 77 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See PKG medium-term trend chart]
A medium-term downtrend had started on April 9, 2024 at 191.27 and reached 169.00 on April 23, 2024. PKG lost 22.27 points, or 11.64%, in 2 weeks. The price is now at the 17.29% retracement level.
 Weekly Technical Indicators: [See PKG weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
Short-term trend: [See PKG short-term trend chart]
A short-term downtrend had started on April 19, 2024 at 180.91 and reached 169.00 on April 23, 2024. PKG lost 11.91 points, or 6.58%, in 4 days. The price is now at the 32.33% retracement level.
 Daily Technical Indicators: [See PKG daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
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