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Down -7.27% in 4 Weeks, Here's Why Packaging Corp. (PKG) Looks Ripe for a Turnaround
PCAPCA(US:PKG) ZACKSยท2024-12-20 15:36

Core Viewpoint - Packaging Corp. (PKG) is experiencing significant selling pressure, but indicators suggest a potential trend reversal due to oversold conditions and positive earnings revisions from analysts [1][3][4]. Group 1: Technical Indicators - The Relative Strength Index (RSI) for PKG is at 24.33, indicating that the stock is in oversold territory, typically suggesting a potential price reversal when below 30 [1][2]. - The stock has declined by 7.3% over the past four weeks, positioning it for a possible trend reversal [3]. Group 2: Analyst Sentiment - There is a strong consensus among Wall Street analysts that PKG will report better earnings than previously predicted, leading to an increase in the consensus EPS estimate by 0% over the last 30 days [3][4]. - PKG holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating strong potential for price appreciation [4].