As lumber prices soar, it's a good time to check back in on shares of PotlatchDeltic Corp. (PCH) .
When we last reviewed PCH back on Dec. 30, we wrote that "Aggressive traders could look to go long PCH on a pullback to $48 risking to $43. The $78 area is our price target."
The shares are up from late December and lumber prices are still soaring higher.
Let's check on the latest charts of PCH.
In the daily bar chart of PCH, below, we can see that prices have continued to rise this year. PCH is trading above the positively sloped 50-day moving average line and the positively sloped 200-day moving average line.
The On-Balance-Volume (OBV) line has risen the past 12 months and tells us that buyers of PCH have been more aggressive (just like traders of lumber futures). The Moving Average Convergence Divergence (MACD) oscillator is in a take profits decline, but has spent much of the year above the zero line.