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Potlatch Looks to Continue to Trade Above its Annual-High Share Price Today

Published on Fri, 02/15/2013 - 15:21
By Robert Cotter

Potlatch (NYSE:PCH) traded today at a new 52-week high of $45.69. This new high was reached on below average trading volume as 195,000 shares traded hands, while the average 30-day volume is approximately 322,000 shares.

Potlatch share prices have moved between a 52-week high of $45.69 and a 52-week low of $28.02 and are now trading 61% above that low price at $45.21 per share. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.2%.

Potlatch Corporation is a real estate investment trust that owns timberlands in Arkansas, Idaho, Minnesota and Wisconsin. The Company grows and harvests timber, as well as manufactures and sells wood products, printing papers, and other pulp-based products. Potlatch's timberlands and all of its manufacturing facilities are located in the continental United States.

Potlatch (NYSE:PCH) is currently priced 17.4% above its average consensus analyst price target of $37.33. The stock should discover initial support at its 50-day moving average (MA) of $41.21 and subsequent support at its 200-day MA of $36.29.

By Robert Cotter
rcotter@fnno.com