Bulls and Bears on the Trenches of Avery
Published on Friday, 03 August 2012 04:30 Written by TradersHuddle Wire
New York, August 3rd (TradersHuddle.com) - Shares of Avery Dennison Corporation (NYSE:AVY) closed the trading day lower by $0.21 or -0.68% from its previous close. Avery Dennison's price action formed what is considered to be a doji close, where the open and close prices are very close to each other, mainly signaling an indecision between buyers and sellers.
Avery Dennison Corporation (NYSE:AVY) develops, manufactures, and markets pressure-sensitive materials, office products and a variety of tickets, tags, and labels. The Company also manufacture a variety of office products and other converted products, as well as binders, organizing systems, markers, fasteners, and business forms, and other products.
Avery Dennison's trading range is defined by a trough, which marked calculated support at $27.79 and by a peak that set the resistance point at $31.37. These levels are closely watched by traders managing their positions.
Traders wanting to establish a position in Avery or traders that are already holding the stock can use the doji close to their advantage, since the pattern present a short-term pause in the stock's price action. This pause results in an entry point for traders depending of which way the stock resolves this short-term indecision.
The Doji is an important candlestick pattern that provides information on their own and as components in a number of important patterns. Doji form when a security's open and close are virtually equal. The length of the upper and lower shadows can vary and the resulting candlestick looks like a cross, inverted cross or plus sign. Alone, doji are neutral patterns.
Any bullish or bearish bias is based on preceding price action and future confirmation. In the case of Avery , given that the stock finished the session lower, bears should monitor the stock, as it could reverse if it manages to trade above its intraday high. Below a Doji illustration:
Related Partner Headlines
- Facebook Hits 1 Billion Active Users: Hot Trends - TheStreet.com
- 3M and Avery Dennison Terminate Agreement for Purchase of Office and Consumer Products Business; 3M Says Disappointed with Turn of Events - Benzinga
- 3M and Avery Dennison Terminate Agreement for Purchase of Office and Consumer Products Business - Benzinga
- 3M and Avery Dennison Respond to DOJ Announcement Regarding Proposed Transaction - Benzinga
- Avery Dennison Stock To Go Ex-dividend Monday (AVY) - TheStreet.com
- Ex-Dividend Stocks: Halliburton, Southwest, Kohl's - TheStreet.com
- Upgrades Roundup: Hess, U.S. Steel - TheStreet.com
- Avery Dennison Corp Stock Upgraded (AVY) - TheStreet.com
- UPDATE: Citi Raises Avery Dennison's PT - Benzinga
- Avery Dennison Reports Q1 EPS $0.45 vs $0.45 Est; Revenues $1.48B vs $1.47B Est - Benzinga
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,354.40 Trade time:4:40PM EDT Value change:▲121.18 (0.80%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,667.47 Trade time:4:39PM EDT Value change:▲17.00 (1.03%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,498.97 Trade time:5:15PM EDT Value change:▲33.73 (0.97%)
In The Wires
VegasHotelEscapes.com Announces Special Vegas Packages For Billboard Music Awards
South African Car Crash Visualisation shows worrying trends
Hungary Construction Market Analysis and 2015 Forecasts in New Research Report at RnRMarketResearch.com
Hog & Pig Farming in Canada Industry Market Research Report Now Available from IBISWorld
Video Scores 440,000+ YouTube Views in 60 Days, Barter Rewards Eyes New Promotion Challenge.
Best Examples of Real Web Sites Created With Joomla - Samples of Top Fantastic Websites Using Joomla Announced By ThreeHosts.com
Cynthia Stott, Mindset and Belief System Expert and Creator of The Generosity Code Announces New Program: The Generosity Code™ The Fundamentals
The Ultimate Girls' Trip: Bali with Spirit Quest Tours