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Avery Dennison Looks to Continue to Trade Above its Annual-High Share Price Today

By David Diaz

Shares of Avery Dennison (NYSE:AVY) traded today at $90.05, breaking its 52-week high. Approximately 110,000 shares have changed hands today, as compared to an average 30-day volume of 794,000 shares.

Avery Dennison share prices have moved between a 52-week high of $90.05 and a 52-week low of $68.55 and are now trading 31% above that low price at $89.67 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.1%.

Avery Dennison Corporation produces pressure-sensitive materials and a variety of tickets, tags, labels, and other converted products. The Company's pressure sensitive products are used in labeling, decorating, and specialty applications. Avery Dennison's non-pressure sensitive products include tickets, tags, RFID inlays, and services for retailers, apparel manufacturers, and brand owners.

Avery Dennison (NYSE:AVY) has potential upside of 1.1% based on a current price of $89.67 and analysts' consensus price target of $90.67. The stock should discover initial support at its 50-day moving average (MA) of $71.14 and subsequent support at its 200-day MA of $64.03.

SmarTrend recommended that subscribers consider buying shares of Avery Dennison on December 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $73.56. Since that recommendation, shares of Avery Dennison have risen 21.2%. We continue to monitor AVY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows avery dennison

Ticker(s): AVY