Some interesting things happening with BRN on a technical level,
The RSI is hovering around the 30 area, as you can see on the chart below the last 4 times price got down to this oversold level there was a decent bounce soon after.
Dec 2020 RSI hovered close to 30 BRN moved from a low of 30.5c to a high of 68c over 19 trading days
March 2021 RSI touched 30, BRN moved from a low of 41c to a high of 77c this time it took only 12 trading days
July 2021 the RSI hovered around 30 BRN moved from a low of 43.5 to a high of 55c over 11 trading days
October 2021 RSI actually broke below 30, BRN moved from a low of 36.5 to a high of 52c over 16 trading days
So whenever the SP gets so oversold BRN has a history of rallying once the RSI gets near to 30, BRN rallied 25%, 40%, 90% to 125%
Currently the RSI is also near the 30 level so odds favour a decent bounce based on BRN's history, the daily macd is also about to cross and even after such a large sell off BRN is still above its 200 day MA
DYOR
Chart, page-18195
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Last
21.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $389.7M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 21.5¢ | 20.5¢ | $939.4K | 4.490M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 201415 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 667700 | 20 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
21.3¢ |
Change
0.000 ( 1.05 %) |
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| Open | High | Low | Volume | ||
| 21.0¢ | 21.5¢ | 21.0¢ | 2673397 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| BRN (ASX) Chart |