Avery Dennison Corporation Stock Forecast
Avery Dennison Corporation stock price down 0.591% on Tuesday
(Updated on Jun 18, 2024)
The Avery Dennison Corporation stock price fell by -0.591% on the last day (Tuesday, 18th Jun 2024) from $228.39 to $227.04. During the last trading day the stock fluctuated 1.81% from a day low at $226.33 to a day high of $230.43. The price has been going up and down for this period, and there has been a -0.19% loss for the last 2 weeks. Volume has increased on the last day by 287 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 483 thousand shares were bought and sold for approximately $109.62 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.27% during the next 3 months and, with a 90% probability hold a price between $232.01 and $247.78 at the end of this 3-month period.
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AVY Signals & Forecast
The Avery Dennison Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $226.93 and $225.40. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -0.95%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Avery Dennison Corporation stock
Avery Dennison Corporation finds support from accumulated volume at $217.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.10 between high and low, or 1.81%. For the last week the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: $219.87 (-3.16%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (AVY) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Avery Dennison Corporation to open at $227.93, and during the day (based on 14 day Average True Range), to move between $223.66 and $230.42, which gives a possible trading interval of +/-$3.38 (+/-1.49%) up or down from last closing price. If Avery Dennison Corporation takes out the full calculated possible swing range there will be an estimated 2.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $227.15 (0.05%) than the support at $217.16 (4.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Avery Dennison Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Avery Dennison Corporation stock to perform well in the short-term.
Current score: 1.419 Buy Candidate Unchanged
Predicted Opening Price for Avery Dennison Corporation of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $227.93 ( 0.393%) | $227.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 232.03 | 2.20% |
| R2 | 230.47 | 1.51% |
| R1 | 229.50 | 1.08% |
| Price | 227.04 | |
| S1 | 226.37 | -0.296% |
| S2 | 225.40 | -0.723% |
| S3 | 223.83 | -1.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 227.59 | 0.242% |
| R2 | 227.47 | 0.189% |
| R1 | 227.15 | 0.0484% |
| Price | 227.04 | |
| S1 | 217.16 | -4.35% |
| S2 | 212.42 | -6.44% |
| S3 | 211.33 | -6.92% |
AVY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Jun 05, 2024 | Jun 20, 2024 | $0.88 | 0.388% |
| 2 | Apr 25, 2024 | Jun 04, 2024 | Jun 20, 2024 | $0.88 | 0.388% |
| 3 | Jan 31, 2024 | Mar 06, 2024 | Mar 20, 2024 | $0.81 | 0.374% |
| 4 | Jan 31, 2024 | Mar 05, 2024 | Mar 20, 2024 | $0.81 | 0.374% |
| 5 | Oct 27, 2023 | Dec 05, 2023 | Dec 20, 2023 | $0.81 | 0.403% |
FAQ
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