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- 4/5/2024 -
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Avery Dennison Corp. (AVY) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Avery Dennison Corp. (AVY). During the week, the AVY dropped -5.14 points, or -2.30%, and closed at 218.11 on Friday, April 5, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was -27% below average.
AVY is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See AVY long-term trend chart]
A long-term downtrend had started on November 8, 2021 at 229.24 and reached 151.62 on June 16, 2022. AVY lost 77.62 points, or 33.86%, in 31 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (182.82) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See AVY medium-term trend chart]
A medium-term uptrend had started on June 16, 2022 at 151.62 and reached 225.26 on March 28, 2024. AVY gained -73.64 points, or -48.57%, in 93 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (165.51) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See AVY weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See AVY short-term trend chart]
A short-term uptrend had started on October 26, 2023 at 165.21 and reached 225.26 on March 28, 2024. AVY gained -60.05 points, or -36.35%, in 154 days. The price is now at the 11.91% retracement level.
 Daily Technical Indicators: [See AVY daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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