The Greedy Trader Weekly Analysis
Sign In Apr 18, 2019
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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 :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Relative Strength Index and Williams' Percentage Range are overboughtStochastic signal line moved below overbought areaLane's Stochastic bearish divergenceThe price is above the upper Bollinger Band
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It was a third consecutive positive week for the Avery Dennison Corp. (AVY). During the week, the AVY gained 2.27 points, or 1.99%, and closed at 116.31 on Friday, April 12, 2019. Weekly volume was -39% 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 42.44 and resistance is at 137.84. 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 January 31, 2018 at 123.67 and reached 82.89 on December 26, 2018. AVY lost 40.78 points, or 32.97%, in 47 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (72.88) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. AVY may retest the broken resistance line. It is considered to be a support line now. 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 Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 18, 2019. The distance between MACD and the signal line is relatively high, but getting smaller. 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 April 10, 2019 at 112.27 and reached 116.44 on April 12, 2019. AVY gained -4.17 points, or -3.71%, in 2 days. Price is near the trend high.

Daily Technical Indicators: [See AVY daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 above its signal line since April 11, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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) 81.47
Overbought
Williams' Percentage Range (W%R) 19.30
Overbought
Lane's Stochastic (%D-Slow) 78.60
Bearish
Greed/Fear Indicator (GFI) 80.27
Overbought
Moving Average Converg./Diverg. (MACD) 1.77
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 87.78
Overbought
Williams' Percentage Range (W%R) 4.60
Strong Overbought
Lane's Stochastic (%D-Slow) 93.87
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 86.69
Overbought
Moving Average Converg./Diverg. (MACD) 1.24 Bearish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 137.84
Price 116.31
Upper Bollinger Band 115.99
Weekly Stochastic Crossing 115.65
Daily Stochastic Crossing 115.45
Parabolic System 112.58
20 Day Moving Average 112.50
50 Day Moving Average 108.98
Lower Bollinger Band 108.86
Quarterly Trendline Resistance 105.46
Sector and Industry
Description Name Rank
Sector Consumer Goods 5
Industry Paper & Paper Products 119
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 112.27
Low Date 04/10/2019
High 116.44
High Date 04/12/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 108.40
Low Date 03/25/2019
High 116.44
High Date 04/12/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 82.89
Low Date 12/26/2018
High 116.44
High Date 04/12/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 105.46
Support 72.88
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 137.84
Support 42.44
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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