Elliott Wave Technical Analysis: Avery Dennison Corporation -

Elliott Wave Technical Analysis: Avery Dennison Corporation

Jan 24, 2025Jeremy ParkinsonFinance0

Avery Dennison Corp. (AVY) – Elliott Wave Technical AnalysisDaily 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 Dennison Corp. (AVY) – Elliott Wave Technical Analysis1-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.

SummaryThe 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.Technical Analyst: Alessio BarrettaMore By This Author:Elliott Wave Technical Analysis: AAVE Crypto Price News For Friday, Jan 24
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