Sellers move in to pressure the buyers and look for a move down to new lows

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