Avery Dennison Corp. (AVY) - Elliott Wave technical analysis

Daily chart analysis

  • Function: Counter-Trend.

  • Mode: Corrective.

  • Structure: Flat.

  • Position: Wave 2 of (5).

  • Direction: Potential bottom in wave 2.

  • Details: As the stock has surpassed the equality of {c} vs {a}, it is now approaching it again with increasing volume. A potential bottom could be in place, particularly if the stock moves back above the key $200 level.

AVERY

Avery Dennison Corp. (AVY) - Elliott Wave technical analysis

One-hour chart analysis

  • Function: Counter-Trend.

  • Mode: Corrective.

  • Structure: Flat.

  • Position: Wave (iii) of {i}.

  • Direction: Upside expected in wave {i}.

  • Details: The potential for an upside resumption is strong, with expectations of a sharp advance in the coming days. A support test above Trading Level 2 at $200 would provide additional confidence in the uptrend.

AVERY

Summary

The analysis of Avery Dennison Corp. (AVY) includes both daily and 1-hour charts, leveraging Elliott Wave Theory to provide insight into market trends and potential price movements. The daily chart suggests a possible bottom formation, while the 1-hour chart anticipates further upside, contingent upon holding above key support levels.

Avery Dennison Corp. (AVY) Elliott Wave technical analysis [Video]

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