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Shares of Avery Dennison Rise to a New 52-Week High

By James Quinn

Shares of Avery Dennison (NYSE:AVY) traded at a new 52-week high today of $84.91. This new high was reached on below average trading volume as 54,000 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.

There is potential upside of 0.2% for shares of Avery Dennison based on a current price of $84.85 and an average consensus analyst price target of $85.00. 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 $84.91 and a 52-week low of $53.56 and are now trading 58% above that low price at $84.85 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%.

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 14.6%. 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