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Packaging Corp of America (PKG) was a notable winner Friday, jumped 2.09 percent on strong volume to 107.57 – a fresh 52-week high. This is bullish from a technical perspective. In fact, a closer look at the daily chart of PKG suggests that the stock could climb up to 130 in the coming days. Just so that you know, initially profiled in our May 23, 2016 “Swing Trader BulletinPKG had gained about 66% and remained well position. Below is an update look at a trade in PKG.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red. The yellow bars identify period of neutral or sideways trading pattern. Additionally, the light-blue shading represents the short-term trading range. A move above or below that range is considered overbought (as represents by the red shading) or oversold (as represents by the dark-green shading). Readings above or below the red and green shaded areas are considered extremely overbought or extremely oversold.

PackagingAmerica_20170616

Chart 1.1 – Packaging Corp of America. (daily)

Our “U.S. Market Trading Map” rates PKG as a Buy. The overall technical outlook remains Bullish. Last changed April 24, 2017 from neutral. PKG has been on a tear in recent days after the mid-May dips found support at the late April breakout point. That level roughly corresponds with the trend channel moving average (as represents by the white line in the chart).

Money Flow measure held firmly above the zero line since the stock reached an interim low in late March, indicating there was little selling pressure. This is a bullish development, increased the odds…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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