Avery Dennison Corp. (AVY) Elliott Wave Technical Analysis - Trading Lounge Daily Chart Analysis

AVY Elliott Wave Analysis 

Function: Counter-Trend

Mode: Corrective

Structure: Flat

Position: Wave 2 of (5)

Direction: Potential bottom in wave 2

Details:
The stock has exceeded the equality of {c} vs {a} and is now revisiting this level with growing volume. A potential bottom formation may occur, particularly if the price reclaims the crucial $200 resistance level.

Avery Dennison Corp. (AVY) Elliott Wave Technical Analysis - Trading Lounge 1-Hour Chart Analysis

AVY Elliott Wave Analysis 

Function: Counter-Trend

Mode: Corrective

Structure: Flat

Position: Wave (iii) of {i}

Direction: Upside expected in wave {i}

Details:

The outlook for a continued upward move remains strong, with the expectation of a sharp rally in the coming days. A successful retest above Trading Level 2 at $200 would further reinforce bullish sentiment.

Technical Analyst: Alessio Barretta

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Summary

The Elliott Wave analysis of Avery Dennison Corp. (AVY) offers valuable insights into market behavior across multiple time frames. The daily chart indicates the potential for a bottoming phase, while the 1-hour chart points to a likely upward movement, contingent on holding key support levels. Monitoring the critical $200 zone remains essential for confirming bullish momentum.