The Greedy Trader Weekly Analysis
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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.
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Avery Dennison Corp.
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Summary:
Weekly :Lane's Stochastic is oversold
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe period of high volatility of the stock price
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It was a first positive week after 5 consecutive negative weeks for the Avery Dennison Corp. (AVY). During the week, the AVY gained 4.30 points, or 4.88%, and closed at 92.42 on Friday, November 02, 2018. It was the best weekly gain since July 27, 2018. Weekly volume was 31% above average.

Long-term trend: [See AVY long-term trend chart]
A long-term downtrend had started on January 31, 2018 at 123.67 and reached 86.06 on October 26, 2018. AVY lost 37.61 points, or 30.41%, in 38 weeks. The price is now at the 16.91% retracement level.

Medium-term trend: [See AVY medium-term trend chart]
A medium-term downtrend had started on July 25, 2018 at 116.35 and reached 86.06 on October 26, 2018. AVY lost 30.29 points, or 26.03%, in 13 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 83.84 and resistance is at 111.10. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AVY weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Lane's Stochastic help.

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 relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See AVY short-term trend chart]
A short-term downtrend had started on September 21, 2018 at 113.32 and reached 86.06 on October 26, 2018. AVY lost 27.26 points, or 24.06%, in 35 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See AVY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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.

The distance between the Bollinger Bands is 139.11% higher then one year average. It indicates the period of high volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.01
Williams' Percentage Range (W%R) 67.10
Lane's Stochastic (%D-Slow) 41.45
Greed/Fear Indicator (GFI) 36.45
Moving Average Converg./Diverg. (MACD) -3.97
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.82
Williams' Percentage Range (W%R) 77.10
Lane's Stochastic (%D-Slow) 17.38
Oversold
Greed/Fear Indicator (GFI) 25.02
Moving Average Converg./Diverg. (MACD) -0.82
Trading Signals
Description Value Chart
Upper Bollinger Band 106.26
50 Day Moving Average 102.94
20 Day Moving Average 95.63
Price 92.42
Daily Stochastic Crossing 89.73
Weekly Stochastic Crossing 89.15
Parabolic System 86.73
Lower Bollinger Band 85.13
Weekly Trendline Support 83.84
Sector and Industry
Description Name Rank
Sector Consumer Goods 7
Industry Paper & Paper Products 37
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 113.32
High Date 09/21/2018
Low 86.06
Low Date 10/26/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 111.10
Support 83.84
High 116.35
High Date 07/25/2018
Low 86.06
Low Date 10/26/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 123.67
High Date 01/31/2018
Low 86.06
Low Date 10/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 23.52
Low Date 10/04/2011
High 123.67
High Date 01/31/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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