Market Overview

Watch for Shares of Avery Dennison (AVY) to Approach Support at $27.13

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(via COMTEX News Network)--

SmarTrend has detected shares of Avery Dennison (NYSE: AVY) have bearishly opened below the pivot of $27.57 today and have reached the first level of support of $27.39.

Should the shares continue to fall, we are monitoring the next support pivots of $27.13 and $26.69. Also, the shares are currently trading below the 50-day moving average of $34.74 and below the 200-day moving average of $39.25.

In the last five trading sessions, the 50-day MA has fallen 2.3% while the 200-day MA has slid 0.4%.

In the past 52 weeks, shares of Avery Dennison have traded between a low of $25.85 and a high of $43.52 and are now at $27.28, which is 6% above that low price.

SmarTrend currently has shares of Avery Dennison in an Downtrend and issued the Downtrend alert on July 19, 2011 at $33.24. The stock has fallen 16.8% since the Downtrend alert was issued.

Write to Chip Brian at cbrian@mysmartrend.com

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