BRN 7.69% 18.0¢ brainchip holdings ltd

A lesson in charting, page-56

  1. 9,522 Posts.
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    Here is my interpretation of todays action, seems pennants and flags are very prevalent at the moment, not just in AZK but elsewhere, I think it has some relationship to the current market psychology, especially in the spec end.
    Not much to say about today, profit takers and stop losses were in full force. Will it recover, probably yes, but not any time soon, probably mid next week would be the first glimmer of a reversal.  The closer we get to the low 20's the more of a magnet the gap at 14c becomes, if we've already fallen this far, what's another few pips to close the gap and put everyone at ease.
    The exit signal was yesterday so no point trying to find one today as basically the lower it went the more longer you should have been out already.
    Unfortunately, now there are a lot of trapped bulls at higher prices which will male the recovery more difficult and slower.
    Announcement and Milestones will be the catalyst.

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Last
18.0¢
Change
-0.015(7.69%)
Mkt cap ! $353.2M
Open High Low Value Volume
20.0¢ 20.5¢ 17.8¢ $2.552M 13.44M

Buyers (Bids)

No. Vol. Price($)
16 753863 18.0¢
 

Sellers (Offers)

Price($) Vol. No.
18.5¢ 423608 5
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Last trade - 16.10pm 26/08/2024 (20 minute delay) ?
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