Technical outlook – Viewing the technical assessment over the past five months, it foreseeable that Australian Pharmaceutical Industries Limited (API) share price will soon draw bullish spectators back to the arena, as demand (buying) opportunities may soon arise.
It is mainly assessed by the technical layout supported by the leading indicators, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) pattern.
Therefore, as the pattern slowly picks up from December 2020 trough, posted at $1.25, first views an immediate target at $1.38, with the expectation likely to lead on towards the region of $1.45 to $1.55.
Company Overview – Australian Pharmaceutical Industries Limited (API) is an Australian health and beauty services company. API provides wholesale product delivery services, retail services, marketing programs and business advisory services to customers. API also has as a number of brands and banners in the retail health and beauty industry, including Priceline, Soul Pattinson and Pharmacist Advice. API has three main businesses namely, Pharmacy Distribution, Manufacturing and Retail.