AFR at fair value but..will be waiting to see if it can hold 7.11 if it doesn't looks like good buying at $6
Key stats
About Australian Foundation Investment Co
ISIN
AU000000AFI5
Australian Foundation Investment Company provide shareholders with attractive investment returns through access to a steady stream of fully franked dividends and medium to long term capital growth.
AFI long after break from consolidationEntry: 7.48
Stop loss: 7.32
Broke out from base consolidation with good volume today.
Not a good close though with the topping tail.
Next earnings in 3 weeks' time.
AFI.ASX_ST LongENTRY: 7.04
TP1: 7.16
TP2: 7.32
SL: 6.8
- ADX>25 today (17 Nov 2020)
- RSI>70 today (17 Nov 2020)
- MAs are aligned
-Break up with good volume
Has AFI's five month up trend come to an end? #ShortAFI has been in an uptrend since August of last year, price was rejected and created a short term resistance level.
Looks like it's due for a retracement on the Daily, Weekly and Monthly with long wicks to the upside. RSI also showing overbought on the same time frames. The next support level is at
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