[BEARISH]: Australian Pharmaceutical has formed a Short Black candlestick. This means, API has limited price movement derived from weak selling pressure. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
This candlestick implies a relatively weak selling pressure with a limited price movement.
Calculation: Short Black Candlestick:
1) The body of the candlestick is black and small;
PROFILE: Australian Pharmaceutical (API.AX)
Stock Exchange: ASX
Company: Australian Pharmaceutical
Ticker Codes: | API.AX | ASX:API |
Australian Pharmaceutical Industries Limited engages in the wholesale distribution of pharmaceutical, medical, health, beauty, and lifestyle products to pharmacies. The company operates through two segments, Australia and New Zealand. It also provides wholesale product delivery, marketing programs, and business advisory services, as well as retail services to pharmacies. In addition, the company purchases and sells health, beauty, and lifestyle products within the retail industry; and manufactures and owns the rights of pharmaceutical medicines and consumer toiletries. It markets its products and services under the Soul Pattinson Chemist, Pharmacist Advice, Club Premium, and Pharmacy Best Buys brand names, as well as operates as a franchisor with 462 Priceline & Priceline Pharmacy stores. Australian Pharmaceutical Industries Limited was founded in 1910 and is based in Camberwell, Australia.
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