AVY closes within prior day's range after lackluster session

Avery Dennison Corp (AVY) Technical Analysis Report for Apr 16, 2018

Highlights

AVY pushes through 200-day moving average
AVY still stuck within tight trading range
AVY closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

AVY ended Monday at 105.98 gaining $1.18 (1.13%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for AVY

Volatility

Monday's trading range was $1.30 (1.23%), that's far below last trading month's daily average range of $2.25. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 104.27 and 107.19 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to the key resistance level at 106.55.

Trend

While the share is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The stock managed to break above the 200-day moving average at 105.00 today for the first time since April 10th.

Order Flow

Buying might speed up should prices move above the close-by swing high at 107.19 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 104.27 where further sell stops could get activated. With prices trading close to this year's low at 102.44, downside momentum might speed up should the market break out to new lows for the year.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Avery Dennison Corp

Condition Forecast Direction Win Rate Exit Day Events
4 Consecutive Higher Closes TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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