The Greedy Trader Weekly Analysis
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Daily W%R:> 70
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 3/15/2024 -
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Avery Dennison Corp. (AVY) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal lineLane's Stochastic and MACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :Lane's Stochastic bearish divergenceThe price has risen above the Parabolic SAR
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It was the negative week for the Avery Dennison Corp. (AVY). During the week, the AVY gave back -0.05 points, or -0.02%, and closed at 215.68 on Friday, March 15, 2024. Weekly volume was -23% 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 (181.85) 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 219.57 on March 4, 2024. AVY gained -67.95 points, or -44.82%, in 89 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (165.12) 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 219.57 on March 4, 2024. AVY gained -54.36 points, or -32.90%, in 130 days. The chart has formed a Rising Channel chart pattern.

Daily Technical Indicators: [See AVY daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence.

The daily MACD line is below its signal line since March 6, 2024. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.44
Williams' Percentage Range (W%R) 44.90
Lane's Stochastic (%D-Slow) 52.10
Bearish
Greed/Fear Indicator (GFI) 54.20
Moving Average Converg./Diverg. (MACD) 3.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.22
Williams' Percentage Range (W%R) 9.90
Strong Overbought
Lane's Stochastic (%D-Slow) 88.50
Overbought Bearish
Greed/Fear Indicator (GFI) 79.76
Moving Average Converg./Diverg. (MACD) 6.58 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 217.84
Weekly Stochastic Crossing 216.54
Price 215.68
Daily Stochastic Crossing 215.37
20 Day Moving Average 214.69
Parabolic System 211.87
Lower Bollinger Band 208.85
50 Day Moving Average 205.82
Monthly Trendline Resistance 189.24
Yearly Trendline Support 181.85
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Paper Packaging 70
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 165.21
Low Date 10/26/2023
High 219.57
High Date 03/04/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 158.93
Low Date 06/01/2023
High 219.57
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 189.24
Support 166.71
Low 157.28
Low Date 10/13/2022
High 219.57
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 172.23
Support 165.12
Low 151.62
Low Date 06/16/2022
High 219.57
High Date 03/04/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 153.21
Support 181.85
High 229.24
High Date 11/08/2021
Low 151.62
Low Date 06/16/2022
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.