One of the stocks that I have on my Stalking list is $PKG now that it is testing the 50 SMA on a pullback. What else can we see from the chart? Let’s find out:
2) The MACD is crossing down so this is a point against the home team
3) Volume did rise slightly on the pullback Friday but given the price move I call it a draw
4) Price did close above the 50 SMA, some buyers dipped in their toes. Point for the home team
5) Price did avoid testing the Rising Trend Line (just below the 50 SMA) so that is a positive. The home team is now up by 1
6) The Move down Friday was a Breakout back-test that breached the B/O level so this is a point against the home team
Back to 0-0 so it is wait and see time for Monday.