AVY is showing a bullish setup in this chart above. AVY was in a sideways trading range from December through April and broke out of that range at the beginning of May. Another trading range followed the first with AVY in a wide band bounded by $55 on the lower end and around $64 on the topside. This chart also shows the positive relationship with the rising 200-day Moving Average with the shorter 50-day positioned above it. Last, the trend following Moving Average Convergence Divergence (MACD) is rising and above the zero line telling us the trend is positive.
This longer-term view, above, of AVY shows the steadily rising On-Balance-Volume line, the bullish crossover of the MACD oscillator above the zero line and the positive trend of the 10-week and 40-week moving averages.
This last chart, above, is a Point and Figure chart and clearly shows the breakout over $64 for AVY and the price target of $71. A sell-stop at $62 is suggested if you buy AVY here on strength.
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GrafTech International makes specialized graphite electrodes for electric arc furnaces and it should have pricing power because of its niche business.
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