CCL Industries Ord Shs Class A CCLLF

Primary Symbol: T.CCL.A Alternate Symbol(s): CCDBF | T.CCL.B

Consumer Cyclical Packaging & Containers

CCL Industries Inc. is a Canada-based company, which is primarily involved in the manufacture of labels, consumer printable media products, technology-driven label solutions, polymer banknote substrates and specialty films. The Company's segments include CCL, Avery, Checkpoint and Innovia. CCL segment is a converter of pressure sensitive and specialty extruded film materials for a range of decorative, instructional, functional and security applications. Avery segment is a supplier of labels, specialty converted media and software solutions for short-run digital printing applications for businesses and consumers. Checkpoint segment is a developer of RF and RFID based technology systems for loss prevention and inventory management applications, including labeling and tagging solutions, for the retail and apparel industries worldwide. Innovia segment is a producer of specialty, high performance, multi-layer, surface engineered films for label, packaging and security applications.

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CCL Industries Ord Shs Class A

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Post by retiredcfon Aug 16, 2024 11:20am

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Post# 36182640

Technical Analysis

Bullish potential on CCL Industries Inc.

CCL Industries rallied from $34.57 in 2020 to $75.19 in 2021 (A-B), reversed the trend in October of the same year (C) but then settled in a bullish technical pattern known as a Triple Bottom (dashed lines). The stock had a breakout from this pattern to $74.49 in March (D) but was quite overbought at that time and far above the rising 40-week Moving Average (40wMA). It has been trading within a horizontal trading range mostly between $68 and $74 since the March high (dotted lines). This trading range allows the 40wMA time to catch up to the price (a correction in time). A sustained rise above $75-76 would signal the resumption of the uptrend.

There is good support near $68-69 and then again at the 40wMA (currently near $66); only a sustained decline below the latter would be negative.

A rise above $75-76 would signal Point & Figure targets of $89 and $99. The large Triple Bottom supports higher targets.