Brainchip Chart, page-24

Hi Layman

After a spectacular rise from 15.5-53.5 with only a few pause days this action doesn't surprise.

Yesterday we created a so far unfilled gap 44-45.5. After an A-wave 15.5-53.5 I expect a B-wave retracement downwards according to the FIB's somewhere in the 23.6% - 38.2% range so that the gap should fill. In some respect that's a good thing as left behind gaps can be a longer term worry.

This is very very normal, remember the SP spent months in the 15.5-19c range. Many buyers in that range may be tempted to bank some profits.

At 17 to 49 that's a 188% gain. Not chicken feed.

A pull-back to half way between the 38.2- 50% (to 44%) is slightly rarer but not uncommon. A pull back to 50% indicates that the strong rise was a bit questionable. If it hits a 61% and beyond then the whole rise could be considered a DCB and below 20 could be on the cards.

My favoured option is a B-wave retracement to the 23.6-38.2 FIB's so somewhere between 39-44.5 which would fill the gap.

Someone who bought $17,000 dollars of shares earlier, yesterday was looking at potentially $53,000 and currently at S49,000. Lost $4,000 in a single day.
Back to $43,000 after losing potentially $10,000, some will panic. That's how B-wave retracements are powered.

Not Voodoo or Rocket science just charting.

DYOR

cheers Lies

PS not all gaps are filled but a vast majority are, and this one looks a very likely candidate. Breaking news could put that gap far behind, but I can't chart breaking news.