Avery Dennison Corporation Stock Forecast
Red day on Thursday for Avery Dennison Corporation
(Updated on Jun 20, 2024)
The Avery Dennison Corporation stock price fell by -0.458% on the last day (Thursday, 20th Jun 2024) from $227.04 to $226.00. During the last trading day the stock fluctuated 1.49% from a day low at $224.82 to a day high of $228.16. The price has fallen in 6 of the last 10 days and is down by -0.84% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -147 thousand shares and in total, 336 thousand shares were bought and sold for approximately $75.93 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 6.08% during the next 3 months and, with a 90% probability hold a price between $231.85 and $251.36 at the end of this 3-month period.
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AVY Signals & Forecast
The Avery Dennison Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $227.11. On a fall, the stock will find some support from the long-term average at approximately $225.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, June 17, 2024, and so far it has fallen -1.05%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, June 17, 2024 and based on theory for this formation the price should fall by -1.26% to $223.16 within 17 trading days since signal was issued (Friday, June 21, 2024).
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 $3.34 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 1.78%.
Our recommended stop-loss: $217.23 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (AVY) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Avery Dennison Corporation to open at $226.33, and during the day (based on 14 day Average True Range), to move between $222.62 and $229.38, which gives a possible trading interval of +/-$3.38 (+/-1.50%) up or down from last closing price. If Avery Dennison Corporation takes out the full calculated possible swing range there will be an estimated 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $227.04 (0.46%) than the support at $217.16 (3.91%), 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: 1.459 Buy Candidate Unchanged
Predicted Opening Price for Avery Dennison Corporation of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $226.33 ( 0.145%) | $226.00 |
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 | 229.67 | 1.62% |
| R2 | 228.39 | 1.06% |
| R1 | 227.60 | 0.709% |
| Price | 226.00 | |
| S1 | 225.05 | -0.420% |
| S2 | 224.26 | -0.769% |
| S3 | 222.99 | -1.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 227.59 | 0.704% |
| R2 | 227.15 | 0.509% |
| R1 | 227.04 | 0.460% |
| Price | 226.00 | |
| S1 | 217.16 | -3.91% |
| S2 | 212.42 | -6.01% |
| S3 | 211.33 | -6.49% |
AVY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Jun 05, 2024 | Jun 20, 2024 | $0.88 | 0.389% |
| 2 | Apr 25, 2024 | Jun 04, 2024 | Jun 20, 2024 | $0.88 | 0.389% |
| 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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