Graphic Packaging Holding Co. ( GPK) provides packaging for food, beverage and other consumer products companies. The name is new to me, but the charts show me familiar patterns.
In this daily bar chart of GPK, below, I can see an upward trend evolving the past 12 months. Prices trade above the rising 50-day moving average line and above the rising 200-day moving average line. The trading volume has been heavier since the beginning of the year and suggests we are seeing increasing investor interest. The On-Balance-Volume (OBV) line has been moving higher the past year and supports and confirms the price gains we have seen to date. The Moving Average Convergence Divergence (MACD) oscillator has been moving sideways but above the zero line.
In this weekly Japanese candlestick chart of GPK, below, I can see that prices have just about doubled in the past three years. GPK trades above the rising 40-week moving average line. The weekly OBV line is positive. The MACD oscillator is bullish. The recent candles suggest we might see a period of sideways price action in the weeks ahead.
In this daily Point and Figure chart of GPK, below, I can see a potential upside price target in the $29 area.
In this weekly Point and Figure chart of GPK, below, I used a five-box reversal filter. Here the software projects a price target in the $33 area.
Bottom line strategy: Traders should do some fundamental research on GPK and combine that with the technicals above. I expect the uptrend of the past three years to continue.
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The technical signals of the iconic food company seem lukewarm at best.
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