AFI – Australian Foundation Investment Company Limited

Stock : AFI – Australian Foundation Investment Company Limited

Current Price : 5.80

Status : On watch for lower high

AFI has been on the cards previously but is looking a little sick. Price has struggled to push up through 6.00 where sellers have taken control to push prices lower. We see that there may be a lower high building with the important level being 5.70. If price pushes down to 5.70, the lower high on the weekly chart will be confirmed and we expect to see some sellers jump in. From there its all about the sell entry setup on the lower timeframe daily chart.