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Downtrend Broken Resist.Archive
- 10/23/2026 -
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Packaging Corporation of America (PKG) Technical Analysis
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| Summary:
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| | It was a third consecutive positive week for the Packaging Corporation of America (PKG). During the week, the PKG gained 11.29 points, or 4.78%, and closed at 247.29 on Friday, October 23, 2026. It was the best weekly gain since July 24, 2026. Weekly volume was 15% above average.
 Long-term trend: [See PKG long-term trend chart]
A long-term uptrend had started on April 9, 2025 at 172.70 and reached 259.98 on August 13, 2026. PKG gained -87.28 points, or -50.54%, in 70 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 219.32 and resistance is at 295.96. 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 August 13, 2026 at 259.98 and reached 224.80 on October 1, 2026. PKG lost 35.18 points, or 13.53%, in 7 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (224.24) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PKG may retest the broken resistance line. It is considered to be a support line now. 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 September 4, 2026. 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 October 1, 2026 at 224.80 and reached 249.58 on October 23, 2026. PKG gained -24.78 points, or -11.02%, in 22 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (235.88) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 short-term trend.
 Daily Technical Indicators: [See PKG daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since October 12, 2026. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
 Candlestick pattern: [See PKG candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.
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