Bullish DailyPlay for Friday Dec 29th, 2017 – Avery Dennison (AVY)
The bullish DailyPlay we chose for Friday Dec 29th is Avery Dennison (AVY). AVY is part of the Materials Sector (XLB). Over the last month, XLB has experienced a 2.54% move higher and its 1m and 6m trend has turned bullish on 12/18 and recently broke higher above its $80 resistance level which now becomes support.
Avery Dennison’s 1m and 6m trends turned bullish on 10/25 and recently bounced higher off its $114 support level. With a technical score of 9 (out of 10), AVY is a strong bullish stock that is likely to continue higher.
As a stop loss, if AVY was to trade below $114 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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