Stock Of The Day: Is It Time To Buy Packing Corporation?

Core Viewpoint - Packaging Corporation of America (NYSE:PKG) experienced a selloff of over 5% due to a report indicating a decline in box demand, but the stock has reached a support level, suggesting a potential reversal [1]. Group 1: Stock Performance - Trading in Packaging Corporation of America was quiet following a significant selloff [1]. - The stock has reached a support level around $192, which has historically led to reversals and upward movements [3][6]. - The recent selloff may be over as the shares have found support, indicating a potential for recovery [1][6]. Group 2: Market Dynamics - Stocks trend lower when there are more shares for sale than buyers, leading to a downtrend until a support level is reached [2]. - At support levels, there is a significant amount of buy interest, which halts the downtrend as sellers no longer need to undercut each other [2]. - The presence of anxious buyers at support levels can lead to a bidding war, pushing prices higher [5].