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Avery Dennison (AVY) Crosses Pivot Point Resistance at $108.32

By David Diaz

Shares of Avery Dennison (NYSE:AVY) opened today above their pivot of $108.14 and have already reached the first level of resistance at $108.32. Should the shares continue to rise, the resistance pivots of $108.68 and $109.22 will be of interest.

There is potential upside of 9.0% for shares of Avery Dennison based on a current price of $107.96 and an average consensus analyst price target of $117.62. The stock should find resistance at its 50-day moving average (MA) of $110.48, as well as support at its 200-day MA of $102.71.

Avery Dennison share prices have moved between a 52-week high of $117.00 and a 52-week low of $82.89 and are now trading 30% above that low price at $107.96 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Avery Dennison on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $90.74. Since that recommendation, shares of Avery Dennison have risen 22.1%. We continue to monitor AVY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts avery dennison

Ticker(s): AVY