A Trading range or consolidation has formed and has broken out during the weekly chart. This indicates that the price levels are going to go higher to the next high
A price action above 176.00 supports a bullish trend direction.
Increase long exposure for a break above 185.00.
The target price is set at 202.00, just below its 78.6% Fibonacci retracement level.
The stop-loss is set at 173.00.
Testing its 200-week simple moving average.
Building a base. The larger the base, the more expansive the space.
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.
A price action above 181.00 supports a bullish trend direction.
The ideal entry price is around 181.50.
Increase long exposure for a break above 185.50.
The first target price is set at 188.50.
The second target price is set at 193.50.
Stop-loss for a break below 180.50.
A fifth and final leg out of the Elliott wave analysis might unfold.
The PEAD projected a Bullish outlook for $AVY after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 64.29%.
AVY is completing a big cup and handle pattern. Earnings were up 77% last quarter and sales grew by 38%, so the growth is definitely there. The cup depth is only 13%, so my initial target would be around 260.00. But the risk is very low as well. We have a tight handle on the right side of the chart. If the current low holds, you could buy the breakout with just a 3% risk.
* Long term strong up trend
* Solid earnings year over year
* Broke out of a 4 month consolidation period
* Still holding above with higher than average volume
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% |...
Hey guys, AVERY DENNISON CORP is in a bullish push with a hammer candle and a large past sell volume. We see a bullish continuation on the TIMEFRAME 5 Min and in the 1 Min we can see the shadow. Which affirms a rejection of buyers with strong potential to break the Vwap in force. Then breakout the consolidation zone and join a new zone, AVERY DENNISON CORP will...
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.
