The Greedy Trader Weekly Analysis
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Avery Dennison Corp.
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Summary:
Weekly :
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtPrice has crossed above the 50 Day Moving Average
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It was a third positive week after 3 consecutive negative weeks for the Avery Dennison Corp. (AVY). During the week, the AVY gained 4.16 points, or 4.60%, and closed at 94.61 on Friday, January 11, 2019. It was the best weekly gain since November 2, 2018. Weekly volume was -28% below average.

Long-term trend: [See AVY long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 17.02 and reached 123.67 on January 31, 2018. AVY gained -106.65 points, or -626.62%, in 464 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 41.81 and resistance is at 134.88. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See AVY medium-term trend chart]
A medium-term downtrend had started on July 25, 2018 at 116.35 and reached 82.89 on December 26, 2018. AVY lost 33.46 points, or 28.76%, in 22 weeks. The price is now at the 35.03% retracement level.

Weekly Technical Indicators: [See AVY weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 5, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 December 26, 2018 at 82.89 and reached 94.70 on January 11, 2019. AVY gained -11.81 points, or -14.25%, in 16 days. Price is near the trend high.

Daily Technical Indicators: [See AVY daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. 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 daily MACD line is above its signal line since December 28, 2018. This is an indication that the short-term trend is up.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.13
Williams' Percentage Range (W%R) 13.50
Overbought
Lane's Stochastic (%D-Slow) 94.18
Strong Overbought
Greed/Fear Indicator (GFI) 83.28
Overbought
Moving Average Converg./Diverg. (MACD) -0.63
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.81
Williams' Percentage Range (W%R) 66.40
Lane's Stochastic (%D-Slow) 33.76
Greed/Fear Indicator (GFI) 38.20
Moving Average Converg./Diverg. (MACD) -3.82
Trading Signals
Description Value Chart
Upper Bollinger Band 95.88
Price 94.61
Daily Stochastic Crossing 94.35
50 Day Moving Average 91.49
Parabolic System 89.71
20 Day Moving Average 89.53
Weekly Stochastic Crossing 88.43
Lower Bollinger Band 85.76
Sector and Industry
Description Name Rank
Sector Consumer Goods 5
Industry Paper & Paper Products 142
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 86.90
Low Date 01/03/2019
High 94.70
High Date 01/11/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 82.89
Low Date 12/26/2018
High 94.70
High Date 01/11/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 116.35
High Date 07/25/2018
Low 82.89
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 123.67
High Date 01/31/2018
Low 82.89
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 134.88
Support 41.81
Low 17.02
Low Date 03/09/2009
High 123.67
High Date 01/31/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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