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  1. Home
  2. / Investing
  3. / Industrials

New Label for Avery Dennison: Price Target of $71

Bullish technicals show that the stock is poised to move higher.
By BRUCE KAMICH
Nov 02, 2015 | 02:49 PM EST
Stocks quotes in this article: AVY

Avery Dennison (AVY) is poised to move higher.

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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TAGS: Investing | U.S. Equity | Industrials

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