Buyers well and truly under pressure as sellers gear up for a big move lower

Potential Sell Entry Alert AFI

 

Time Frame : Daily/Weekly

Sector : Diversified Financials/Asset Management

Key Stats : $7.16 Billion Market Cap, VWAP 6.004, ASX Ranking 57, 4 Week Av Turnover $1,975,500, Current Turnover (Intraday as at time of alert) $1,238,956, PE Ratio 25.5, Div Yield 3.99%.

Company Overview : Australian Foundation Investment Company Limited (AFI) is an Australian investment company, focused on investing in Australian companies with high quality assets, brand and/or business footprints.

Broker Consensus : NONE

 

AFI – Australian Foundation Investment Company Limited

AFI clearly under pressure with buyers still putting up a fight into support around 5.95/6.00. We are now seeing the potential for a much bigger move lower but price has a little more work to do for the sell entry setup to play out.

 

Stock Code : AFI – Australian Foundation Investment Company Limited

Company Website : www.afi.com.au

Current Price : 6.00

Status : On watch for sell entry setup

 

 


Previous Alert 13/11/18

Potential Sell Entry Alert AFI

 

Time Frame : Daily/Weekly

Sector : Diversified Financials/Asset Management

Key Stats : $7.31 Billion Market Cap, VWAP 6.115, ASX Ranking 57, 4 Week Av Turnover $1,864,920, Current Turnover (Intraday as at time of alert) $1,316,970, PE Ratio 26.0, Div Yield 3.92%.

Company Overview : Australian Foundation Investment Company Limited (AFI) is an Australian investment company, focused on investing in Australian companies with high quality assets, brand and/or business footprints.

Broker Consensus : NONE

 

AFI – Australian Foundation Investment Company Limited

AFI is under pressure as the ASX200 heads lower under global market uncertainty. We can see that buyers have tried hard to push price up only to get to 6.15 before running out of steam. We are now watching for sellers to move in and build the lower highs for a run down through 6.00 support.

 

Stock Code : AFI – Australian Foundation Investment Company Limited

Company Website : www.afi.com.au

Current Price : 6.12

Status : On watch for sell entry setup