Moving Average Crossover Alert: Avery Dennison (AVY)
Avery Dennison Corporation AVY is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for AVY broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.
This has already started to take place, as the stock has moved higher by 9.4% in the past four weeks. Plus, the company currently has a Zacks Rank #2 (Buy) suggesting that now could definitely be the time for this breakout candidate.
More bullishness may especially be the case when investors consider what has been happening for AVY on the earnings estimate revision front lately. No estimate has gone lower in the past two months, compared to 4 higher, while the consensus estimate has also moved higher too.
So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Full-Blown Technological Breakthrough in the Making
Zacks’ Aggressive Growth Strategist Brian Bolan explores autonomous cars in our latest Special Report, Driverless Cars: Your Roadmap to Mega-Profits Today. In addition to who will be selling them and how the auto industry will be impacted, Brian reveals 8 stocks with tremendous gain potential to feed off this phenomenon.Click to see the stocks right now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Avery Dennison Corporation (AVY): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
