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Recent 52-Week High Exceeded in Shares of Avery Dennison (AVY)

By Amy Schwartz

Avery Dennison (NYSE:AVY) traded at a new 52-week high today of $93.04. This new high was reached on below average trading volume as 84,000 shares traded hands, while the average 30-day volume is approximately 794,000 shares.

Avery Dennison (NYSE:AVY) is currently priced 2.6% above its average consensus analyst price target of $90.67. The stock should find initial support at its 50-day moving average (MA) of $71.14 and further support at its 200-day MA of $64.03.

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.

Over the past year, Avery Dennison has traded in a range of $68.55 to $93.04 and is now at $93.04, 36% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.1%.

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 24.7%. 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