Australian Pharmaceutical (API.AX)
Trading: HOLD @ $1.72
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Australian Pharmaceutical (ASX:API) buyers are keener than sellers and are driving the price up. There has been 2 consecutive days of price rise for API adding strength to an uptrend in the first timeframe. The biggest upward movement this month has been 5.2 & the greatest daily positive change this year has been 8.3. The longest consecutive upswing rally over the last 12 months has been 10 days giving a total rally upward movement of 26.8%. This quarter, the largest upswing rally has been 2 days giving a total rally upward movement of 6.4%. The win ratio for price rise in the first timeframe for the last 12 months is 0x giving a total win/loss ratio of 1.7x. Over the last month the average daily upward movement has been 2.000000%
The only price most market participants look at is the closing price in relation to the previous day’s close. As such the position of the close has the ability to highlight recent performance and indirectly the keenness of traders.
[Calculations] Close Today Versus Close Yesterday (CTCY):
1) [Close] > [Close Yesterday] = Buyers keener than sellers;
2) [Close] < [Close Yesterday] = Sellers keener than buyers;
3) [Close] = [Close Yesterday] = Neither are keener
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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