Trading in Packaging Corporation of America (NYSE:PKG) is quiet Wednesday. This follows Tuesday’s selloff of more than 5%. The drop came after a report from a research firm indicated that the demand for boxes was expected to drop.The selloff may be over. The shares have reached a support level. Packaging Corporation is our Stock of the Day.Stocks trend lower when there are more shares for sale than there are to be bought. Sellers are forced to undercut each other to get the attention of buyers.
This forces the stock into a downtrend.But these trends end or pause when they reach support.Support is …Full story available on Benzinga.com
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