Avery Dennison (AVY) Weekly Bull Flag Breakout
Avery Dennison (AVY) a best-in-class Packaging play with a big weekly bull flag breakout this week that measures to a target of $275. AVY has been a strong play on its growing RFID business and warehouse automation. AVY makes pressure-sensitive materials, labels and tags, and RFID inlays that are used across retail, personal care, pharmaceutical, automotive industries. AVY sees a big driver going forward from RFID adoption in the apparel market, a smaller part of their mix now but expected to grow 15% to 20% annually. They are the leader in the space today with 50% market share and more companies are buying into their use for better inventory management, especially as omni-channel growth surges.