API - Australian Pharmaceutical Industries Limited - Aussie Stock Forums

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  1. #1

    Default API - Australian Pharmaceutical Industries Limited

    I see a cup and handle pattern forming, watch for the handle breakout on volume (~ 4M shares).

    Price Target of 77-78 cent using -
    • Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup.

    API is Insider Trader’s pick of the week and has these comments

    - 5 Directors have been buying recently
    - Brokers re finally increasing their recommendations
    - Buyer demand and smart money has been increasing substantially
    - It's also currently trading at below its stated net tangible assets.

    I hold API
    Attached Images

  2. #2

    Default Re: API - Australian Pharmaceutical Industries Limited

    Hello Fool,

    (not sure that I like your handle but each to their own - you may not like my avatar)

    The chart below also shows a Cup & Handle (diagram a bit different but the target similar).

    Daily chart: Volume still dropping and still close to support - may just bounce off support on any weakness monday
    Attached Images

  3. #3

    Default Re: API - Australian Pharmaceutical Industries Limited

    Hey Ectoplasm,

    Thanks for a proper chart, my skills in paint are… well see above lol. Good to see we have a similar target, that’s what matters in the end. I guess now we just have to wait and see what happen when the traders return from holiday.

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