Buyers have spent time building a base ready to launch a move higher

Potential Buy Entry Alert to Watch API

Time Frame : Daily/Weekly

Sector : Healthcare Equipment and Services

Key Stats : $699.4 Million Market Cap, VWAP 1.43, ASX Ranking 306, 4 Week Av Turnover $2,918,957, Current Turnover (Intraday as at time of alert) $2,299,824, PE 14.8, Div Yield 5.46%.

Company Overview : Australian Pharmaceutical Industries Limited (API) is an Australian health and beauty services company. API provides wholesale product delivery services, retail services, marketing programs and business advisory services to customers. API also has as a number of brands and banners in the retail health and beauty industry, including Priceline, Soul Pattinson and Pharmacist Advice. API has three main businesses namely, Pharmacy Distribution, Manufacturing and Retail.

Broker Consensus : Not covered by a major broker

API – Australian Pharmaceuticals Industries Limited

API has been holding support for over a year as buyers seem content to hold the level. We are now watching the action for a move higher through 1.47 which will indicate that the buyers are starting to engineer a move higher. If we see the break of 1.47/1.50 then a higher low will be the confirmation needed for the entry setup.

Stock Code : API – Australian Pharmaceuticals Industries Limited

Company Website : www.api.net.au

Current Price : 1.44

Status : On watch for potential higher low and push up through 1.60