Shares in Focus – Average True Range Watch for Avnet, Inc. (NYSE:AVT)

Avnet, Inc. (NYSE:AVT) shares are on our radar today. We have noted that the latest ATR reading is 1.19. The ATR may be used by investors and traders to gauge when markets are likely to range, when extreme stock price levels are being approached, or if there is significant interest in a trend. ATR may be used as an indicator, but it may not predict anything by itself. Higher ATR’s may indicate that the stock is trending, and smaller ATR’s may be indicitive of stock price consolidation. The ATR range will be positive whether or not shares are trending up or down. ATR may allow traders to more accurately buy or sell into certain trends.

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Stock market reversals can occur at any given time. Sometimes, these corrections can provoke ominous forecasts from the investing community. With the market still riding high, it is important to note that market corrections can be common happenings in bull market runs. Investors may use these opportunities to buy some names at discount prices. As we move through earnings season, investors will be watching to see how companies have fared over the last quarter. Investors may want to examine sell-side analyst revisions in the weeks and days prior to the report. Investors and analysts will both be eagerly watching to see if the company can beat expectations.                                                                                    

Following some historical performance data on shares of Avnet, Inc. (NYSE:AVT), we can see that performance for the previous week is 2.25%. YTD, the stock has performed 10.94%. Over the last full-year, shares have performed -0.05%. For the previous month, company shares are -8.58%. For the last quarter, the stock has performed -2.77%. Tracking some recent volatility numbers, shares are 2.45% for the week, and 2.71% for the past month.

Avnet, Inc. (NYSE:AVT) has a current consensus broker rating of 2.70. This rating follows a scale where a 1 or a 2 would represent a consensus Buy recommendation. A rating of 4 or 5 would indicate a consensus Sell recommendation. A rating of 3 would represent a Hold recommendation. Checking in on the RSI or relative strength index, we see that the 14-day level is 41.54. The RSI operates in a range-bound area with values between 0 and 100. When the RSI line heads higher, the stock may be showing strength. The opposite is the case when the RSI line is moving down. RSI may be used to spot overbought or oversold conditions. An RSI reading over 70 would be considered overbought, and a value under 30 would indicate oversold conditions.

A level of 50 would represent neutral market momentum. At current stock price levels, we have noted that Avnet, Inc. (NYSE:AVT) shares are separated -18.32% from the 52 week high and 19.37% off of the 52 week low. From the open, the stock has seen a change of 0.30%. Looking at some other high/low data, the stock has been seen trading -11.45% away from the 50 day high and 8.77% off of the 50 day low. In terms of volume, the current value is near 943994. Investors may be keeping a close eye on unusual trading volume on company shares. A large increase or decrease in trading volume may suggest that other factors are present.

Individual investors have the tendency to migrate towards certain stock strategies that have been successful in the past. While following previous strategies may be profitable, investors have to be ready for sudden market changes. Most investors will rejoice when stocks in the portfolio catch a hot streak. On the opposite side, investors may become highly dejected when they experience a prolonged losing streak. Sometimes, previously successful strategies run their course and they no longer work. Investors may benefit greatly from being able to make adjustments when the market takes a turn for the worse. 

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