Brainchip Chart, page-32

Much misinterpretation of what I was posting.

Yes there is a chance that the gap can fill quickly. But that's if the A-wave is complete from 15.5-53.5. With a rise from the low that a 345% A-wave.
So some profit takings is likely but not guaranteed. From yesterdays peak to todays low 46 that's a 14% pullback.in a day.

Gaps don't have to close quickly, but a majority do. In the bubble period I remember 3 gaps being opened that took weeks and months to fill. Not all gaps are filled , breakaway gaps come to mind, but usually attached to some concrete news.

I think that this surge is about parties starting to accumulate. However chasing the SP upwards day by day is a bit foolish. so back off the buying pressure for a short period and see what nervous sellers fall from the tree.

Marketingman are you old enough to remember this quote.

'After all, tomorrow is another day. '

Obviously in the very short term if 53.5 is passed then the A-wave was not complete.

Personally I don't like runaway bubbles, I would welcome a pullback to set up a stair-stepping rise. They are safer in the long run. In the charts I utilise these pullbacks as indicators to set higher targets or where if reached I would not be surprised.

A serious news announcement is a different matter. But with BRN the last serious news was years ago and it was misinterpreted and people lost serious money chasing that furphy.

We shall see? DYOR

cheers Lies