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 Dennison Corp. (AVY) - Elliott Wave Technical Analysis

1-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.

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.

Technical Analyst: Alessio Barretta

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