Company: Avery Dennison Corporation Ticker: AVY Exchange: NYSE Sector: Industrials Introduction: In our analysis today, we're looking at Avery Dennison Corporation (AVY) on the NYSE, an industrial sector company. The weekly chart displays a potential bullish reversal in the form of a Symmetrical Triangle pattern that has been developing over the past 58...
Triangles are similar but angled oppositely. From this we can assume that the upper triangle will break down, as price entering the first triangle was upward movement. Also the structure above the solid green line does look like a top structure.
Ascending Triangle broken out after a 6-month bull run with a 3-month correction. We are trying to capture the run right out of the gate, hence there is limited support confirmation. However, momentum is there and the RSI / STOCH / MACD are on our side. - Target Entry $128.05 - Target Stop Loss $126.00 - Target Exit $137.85 About me - P/L September +33.74% |...
AVY seems forming a potential H&S formation. It seems it has broken its neckline and showing strong downward momentum. There are some inside selling as well. We think it has good downside potential.
AVY is approaching our first resistance at 99.97 (horizontal overlap resistance, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 91.37 (50% Fibonacci retracement). Stochastic (34,5,3) is also approaching our resistance and we might see a corresponding drop in price.
AVY forming a potential flag formation. Moneyflow is deep on the negative side. Break below 68 will be confirmation of the flag breakout. You can check our detailed analysis on AVY in the trading room/ Executive summary link here- www.youtube.com Time Span: 6:50" Trade Status: Pending --------------------