BeerCanCapital

Has AFI's five month up trend come to an end? #Short

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ASX:AFI   AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED
AFI 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 $6.99, although a tight stop will be important as it is possible that it could be making a higher low.

Buy Price: $7.20
Stop Loss: $7.30
Target: $7.00

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