rossgivens

Low Risk Cup and Handle Entry on AVY

Long
NYSE:AVY   Avery Dennison Corporation
AVY is completing a big cup and handle pattern. Earnings were up 77% last quarter and sales grew by 38%, so the growth is definitely there. The cup depth is only 13%, so my initial target would be around 260.00. But the risk is very low as well. We have a tight handle on the right side of the chart. If the current low holds, you could buy the breakout with just a 3% risk.

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