PKG

Packaging Corporation of America

NYSE · Common stock

236.00

+3.42 (+1.47%)

Close, Oct 16, 2026

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Structural summary

What is the structure, what changed, and what would invalidate it

Viridia Intelligence

Context across dimensions, not a rating

StructureContracting rangeIntermediate-degree swings on the daily chart.

WaveDefensiveZigzag, wave C down (Pattern Confidence 71); the weekly count points the other way.

FibonacciZone belowNearest confluence 221.21–222.74 (3 relationships), −5.9% from the close.

MomentumPositive3 months +3.3% (ahead of SPY by 0.5 points); 6 months +10.6%.

RegimeMixed−1.1% vs the 50-day average, +3.6% vs the 200-day.

RiskNormal20-day volatility 18% vs 28% over the year; 1-year drawdown −17.7%; beta 0.73.

PKG setup history6 resolved: 2 reached target first

Current structure

Price, swings and the preferred count on the chart

PKG · 1DLoading bars…

SourceMassive, end of dayUpdated—MethodDaily bars, split-adjusted

Candidate interpretations

Every count shown passes every hard rule

Candidate interpretations

Ranked by Pattern Confidence

Counts ending at the latest intermediate swing high, 242.63 on Sep 21, 2026. 84 labelings tested, 70 broke a hard rule, 12+ remain.

Hard-rule evidence: why 70 labelings were eliminated

18Wave 2 always retraces less than 100% of wave 1
15Wave 3 always travels beyond the end of wave 1
10Contracting diagonal: wave 3 is shorter than wave 1, wave 5 shorter than wave 3, and wave 4 shorter than wave 2
10Price after the last labeled point has not crossed a rule-based invalidation level
7Contracting triangle: C ends short of A's end, D short of B's end, and E short of C's end
5Wave B retraces at least 90% of wave A

Method Every chain of 3–6 alternating pivots ending at the latest confirmed pivot is tested as each pattern; only counts with zero hard-rule failures are kept, then ranked by Pattern Confidence. Rules: rulebook.Engine pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1, bars to Oct 16, 2026

Fibonacci map

Confluence zones above and below the closeClose 236.00

236.00close

Bar length is the zone's strength (a weighted count of relationships, not a probability). Select a zone to see what forms it.

221.21 – 222.74−5.9% from the close

3 relationships · strength 6.2 · Primary, Intermediate degrees

222.74Prior 4thWave 4 near the prior fourth wave of lesser degree (2026-07-22) · Primary · Essentials
222.15RetracementCorrection retraces 38.2% of waves 1–5 · Intermediate · Basics
221.21ProjectionWave C = 61.8% of wave A · Intermediate · Essentials · secondary ratio

Method Targets come from the Fibonacci relationships the sources describe for the wave in progress, Elliott trend channels, the prior fourth wave of lesser degree, and 38.2–78.6% retracements of the latest swing. A zone is where two or more independent relationships fall within max(¼ ATR, 0.4%) of each other; strength counts them, weighting primary ratios and higher degrees. It is not a probability.

Evidence

The setup the preferred count implies, and how that kind of setup has done

Setup

Intermediate degree · from the preferred count

Bearish setupActive now

Wave C under way

Wave C is under way, the final leg of the correction.

Pattern Confidence 71 · High

Reference level0.0% from close

236.00

Latest close

Invalidation+10.2% from close

259.98

wave B cannot go beyond the start of wave A (hard rule)

Structural target−11.9% from close

207.97

Wave C = 100% of wave A

Reward : risk

1.2 : 1

Invalidation 10.2% from the reference level · 5.4 ATR

Track record: this setup reached its target first in 13% of 1,358 past cases, averaging −0.19R. It lost money in both halves of the replay (−0.11R, then −0.30R), so treat it with caution. Method

Counter-trend trade: wave C ends the correction, after which the larger trend resumes.

NoteResearch scenario generated from Viridia's structural model. Not a recommendation.BasisIntermediate degree, daily bars through Oct 16, 2026. Followed for up to 60 sessions in the track record.MethodA setup restates the preferred count as a trade: the entry (the close, or the level where the correction in progress most often ends), the stop where the count is wrong (a rule level, or the end of a finished pattern), and the count's own Fibonacci target. Reward:risk is measured from the middle of the entry range. A setup needs reward:risk of at least 1 : 1. It is research output from the wave count, not a recommendation or a forecast.

Engine details

Analysis engine: pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1
Bars analysed to: Oct 16, 2026
Price history: Automatic, updated nightly
Daily bars: 514 since Sep 30, 2024
Avg volume, 50 days: 551.4K
Dollar volume, 20 days: $126.5M
SEC CIK: 0000075677
Provider symbols: nasdaqtrader: PKG · massive: PKG
Listing changes: None since Sep 24, 2026

SourcePrices: Massive (end of day, split-adjusted). Listings: Nasdaq Trader, SECUpdatedOct 19, 2026, 8:00 AM EDTMethodSecurity master, daily snapshot diff

Structure at a glance

Daily chart, as of Oct 16, 2026

Since the count's last pivot (242.63, Sep 21, 2026) price has moved −2.7%, the way the count expects.12 of 12 rule-valid counts expect the current move to be down.Weekly count: zigzag wave C ↑, opposite direction

Preferred count

Zigzag down · wave C ↓

Price is in wave C of a three-wave zigzag correction down.

A-B from 259.98, Aug 13, 2026

Pattern Confidence71High

3 of 3 checks met

Key levels, preferred count

Invalidation+10.2% from close

259.98

Price above this level breaks the count.

Target, wave C−11.9% from close

207.97

Wave C = 100% of wave A

Nearest confluence zone−5.9% from close

221.21–222.74

3 Fibonacci relationships meet here.

Alternate count

Ending diagonal down · wave 3 ↓

Price is in wave 3 of a five-wave decline (ending diagonal).

1-2 from 259.98, Aug 13, 2026

Pattern Confidence60Medium

1 of 1 checks met

Why this count is preferred · 3 met, 0 not met

Met

Wave B retraces 38.2% to 85.4% of wave A
Wave B retraces under 90% of wave A (deeper B waves fit a flat better)
The count starts at the price extreme of the prior swing (a new trend begins where the old one ended)

Not met

None.

MethodPattern Confidence = (guidelines met + 2) ÷ (guidelines measured + 4), from the rulebook's guidelines, Fibonacci tendencies and wave-personality checks (wave 3 speed and volume, wave 5 volume, alternation in time, a start at the prior extreme), alternate waves in Fibonacci ratio, and the rarity of running flats. The alternate is the best-ranked count that tells a different story. It ranks the rule-valid counts against each other; it is not a probability of any outcome.

Structural summary

Viridia Intelligence

Current structure

Candidate interpretations

Candidate interpretations

Fibonacci map

Fibonacci map

Evidence

Setup

Engine details

Structure at a glance

What changed