Sep. 1 at 7:36 PM
$PACK 1,2,3 Pullback Bullish setup. 5.6 break on watch this week 🚨
Announced a major expansion of its existing relationship with Walmart. The automated packaging systems will be deployed at Walmart locations in Greencastle, Pennsylvania; Joliet, Illinois; Lancaster, Texas; and Stockton, California, according to a press release from Ranpak Holdings Corp. With a market capitalization of
$411 million and revenue growth of 10.4% in the last twelve months, Ranpak continues to expand its market presence. This undervalued gem moved all the way up to
$42 from
$16 back in 2021.
From a chart structure standpoint, it was coiling tightly under the 6.00 level with multiple bullish signals emerged - crossed above 200 DMA, new uptrend, expansion breakout, and pocket pivot suggesting upside potential with resistance at 6.15, 6.74 & 7.16. It may consolidate at 5.5-5.7 level for a while, but its next range expansion can catch fire easily with 6.0 breakout. 6 month long swing idea.
