Sellers pile in to apply the pressure and send price lower

Potential Sell Entry Alert AFI

 

Time Frame : Daily/Weekly

Sector/Industry Group : Diversified Financials/Financial Services

Key Stats : $7.4 Billion Market Cap, VWAP 6.221, ASX Ranking 63, 4 Week Av Turnover $2,076,867, Current Turnover (Today) $630,366, PE Ratio 26.3, Div Yield 3.87%.

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 recently fell short of highs around 6.45 and found selling pressure to push price lower. We have noticed the rejection in price from sellers around 6.25/6.30 so expect to see lower prices soon. We are watching for lower highs for a potential sell entry setup for a move down to 6.00 and beyond.

 

Stock Code : AFI – Australian Foundation Investment Company Limited

Company Website : www.afi.com.au

Current Price : 6.225

Status : On watch for a Sell entry setup