Thanks for replying Tinhat, you gave more information in your 2...

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DingoBorat

2,837 Posts.

1314

15/01/22

01:28

Post #: 58882382
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Originally posted by tinhat ↑

Hey @DingoBorat honestly, I'm just a dude that doesn't know much at all. It is not often that I sit and watch live the trades go through on webIRESS (that is "read the tape") but I've decided to study this run up in BRN closely and see if I can learn anything from it.

I've got a few stocks that I'm free carried in and now don't care about pullbacks any more because they are multi-baggers. I was thinking earlier today that perhaps I get too nervous with stocks I haven't held for long and take too much profit too early in trying to get free carried. I only bought BRN in November.

In my reading of today's trading, I thought BRN was heading towards a $1.40ish finish. It seemed to me that there was a lot of money spent propping up the price at $1.50 in the last maybe twelve or so minutes of trade today. I can only guess that maybe LDA Capital were the seller but who knows? The broker does. I don't get broker data and I know there are some investors and traders who analyse the broker data to try and glean if major shareholders are accumulating or selling down. I think this data is available T+3 or something like that. But, as others have pointed out here, one or two buyers were happy to snap up twelve million shares at $1.50 also. So that is where the market price currently sits.

It seems to me that almost everyone posting seems to think this is a good long term buy. We are just haggling over the price and whether the price has got ahead of itself with exhuberance and FOMO. My best guess is this will retrace down to under $1 at some point. Someone earlier posted asking people to like their post if they agreed BRN will get to $3. Sure it will get to $3. The question is when and whether it will go lower before it gets there.

I made a mistake in my earlier post, the 21 day EMA is sitting near the 61.8% fibonacci retracement level (95c) not the 78.6% level.

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Thanks for replying Tinhat, you gave more information in your 2 line posts today, but all good.

It's the ones that don't know much, that understand even less

Good luck with your investments and we'll see how this "plays" out next week.

BRN Price at posting: $1.50 Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

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