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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 at a new 52-week high today of $76.64. This new high was reached on below average trading volume as 127,000 shares traded hands, while the average 30-day volume is approximately 794,000 shares.

Avery Dennison Corporation develops, manufactures, and markets pressure-sensitive materials, office products and a variety of tickets, tags, labels and other converted products. The Company also manufacture a variety of office products and other converted products, as well as binders, organizing systems, markers, fasteners, and business forms, and other products.

Avery Dennison (NYSE:AVY) is currently priced 7.6% above its average consensus analyst price target of $70.40. 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.

Avery Dennison share prices have moved between a 52-week high of $76.64 and a 52-week low of $53.56 and are now trading 42% above that low price at $76.18 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Avery Dennison on February 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.51. Since that recommendation, shares of Avery Dennison have risen 17.5%. 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