The Descending Triangle is just one piece of the puzzle. See the full technical breakdown.
Bearish continuation pattern.
Market participants tracking Packaging Corporation of America should note the latest formation. Currently at $204.46, the asset is showing downward momentum (-3.22%). Algorithmically, a Descending Triangle structure has completed. This setup is supported by average volume turnover. A potential breakout level is identified at $201.25, targeting $162.59 with support near $216.03 (R:R 2.62).
What is your outlook on PKG?